More businesses to be categorised as small businesses, meaning less red tape
Move will potentially exempt tens of thousands of the UK’s growing businesses from relevant future regulations, saving them thousands of pounds
Start of a sweeping package of reforms to cut red tape for business and stimulate growth
Thousands of the UK’s fastest-growing businesses will be released from reporting requirements and other regulations in the future, as part of plans aimed at boosting productivity and supercharging growth, Prime Minister Liz Truss announced yesterday.
Currently, small businesses are presumed to be exempt from certain regulations. However, many medium sized businesses – those with between 50 and 249 employees – still report that they are spending over 22 staff days per month on average dealing with regulation, and over half of all businesses consider regulation to be a burden to their operation [source].
The Prime Minister has announced plans to widen these exemptions to businesses with fewer than 500 employees for future and reviewed regulations, meaning an additional 40,000 businesses will be freed from future bureaucracy and the accompanying paperwork that is expensive and burdensome for all but the largest firms.
The exemption will be applied in a proportionate way to ensure workers’ rights and other standards will be protected, while at the same time reducing the burden for growing businesses.
Regulatory exemptions are often granted for SMEs, which the EU defines at below 250 employees. However, we are free to take our own approach and exempt more businesses to those with under 500 employees. We will also be able to apply this to retained EU law currently under review, which we would not have been able to do without our exit from the EU.
The changed threshold will apply from today (Monday 3 October) to all new regulations under development as well as those under current and future review, including retained EU laws. The Government will also look at plans to consult in the future on potentially extending the threshold to businesses with 1000 employees, once the impact on the current extension is known.
This is the first step in a package of reforms to ensure UK business regulation works for the UK economy. The reforms will harness the freedoms the UK has since leaving the EU to remove bureaucratic and burdensome regulations on businesses, while streamlining and making it easier for them to comply with existing rules, ultimately saving them valuable time and money.
Output contracts during August amid quicker fall in new orders
Growth in employment moderates
Business outlook dampens, as confidence hits 27-month low
Scottish private firms registered the first contraction in 18 months, according to the latest Royal Bank of Scotland PMI® data.
The seasonally adjusted headline Royal Bank of Scotland Business Activity Index – a measure of combined manufacturing and service sector output – posted 47.8 in August, down from 50.2 in July.
Below the neutral 50.0 threshold for the first time since February 2021, the latest reading indicated a modest decrease in private sector activity. At the same time, inflows of new work fell for the second consecutive month, and that too at a quickened pace.
The drop in business requirements allowed firms to work through backlogs, resulting to capacity pressures easing for the third month running. Also, the rate of job creation measured the weakest in 16 months, signalling a slowdown in hiring activity.
On the flipside, weakening demand gave a respite to inflationary pressures; input prices rose at the weakest pace in seven months, while firms raised their charges at the second-slowest rate since January.
For the second consecutive month, a contraction was recorded in new business received at the Scottish private sector during August.
The rate of decrease quickened on the month as inflows of new orders received at service firms stagnated, while manufacturing companies noted a fourth running month of reduction. According to surveyed businesses, the downturn stemmed from weakening client demand, Brexit, the Ukraine-Russia war, and rising economic uncertainty.
Moreover, the pace of decrease registered across Scotland was stronger than that seen for the UK as a whole.
Expectations towards future activity at Scottish companies moderated during August. The level of positive sentiment dropped to a 27-month low. Rising recession risks, the cost-of-living crisis and declining demand all dampened the 12-month outlook.
Scotland registered weaker output expectations than Wales and all English regions except the North East, although it was more optimistic than Northern Ireland.
Scotland’s private sector firms raised employment for the seventeenth successive month in August. However, reduced business requirements resulted in a slowdown in hiring growth. The latest reading signalled the softest expansion in workforce numbers since April 2021. Firms also cited hiring difficulties amid a highly competitive jobs market.
The latest upturn across Scotland was softer than that at the UK level.
Backlogs of work at Scottish private sector firms fell in August for the third consecutive month. The rate of depletion quickened marginally on the month as the respective seasonally adjusted Outstanding Business Index was largely pulled down by a sharp drop seen across the manufacturing sector. Respondents noted that reduced order volumes and additional staff allowed them to clear away backlogs.
Overall, the rate of reduction was only marginally faster across Scotland than that seen across the UK as a whole.
Average cost burdens facing private sector firms in Scotland increased during August, thereby extending the current run of inflation to 27 months. While the rate of input price inflation recorded the weakest in seven months, it remained strong in the context of historical data. COVID, Brexit, the war in Ukraine and rising energy and raw material prices were all in part blamed for the latest incline.
As has been the case for the last 22 months, Scottish private sector firms continued to raise their charges during August. Thought the respective seasonally adjusted index posted the second-lowest in seven months, it remained comfortably above the long-run series average. According to panellists, the rise in charges reflected higher input costs.
Scotland registered the weakest increase in charges across all 12 UK areas monitored in August.
Source: Royal Bank of Scotland, S&P Global.
Judith Cruickshank, Chair, Scotland Board, Royal Bank of Scotland, commented:“August data signalled a deterioration across the Scottish private sector, as activity levels fell for the first time in 18 months. Moreover, weak client demand and rising economic uncertainty, with a threat of a recession looming, resulted in falling inflows of new business.
“The latest survey data did indicate some easing of upward pressure on input costs as a result of a reduction in client appetite. Nonetheless, inflation rates remained stubbornly strong.
“Moreover, the contraction across the sector impacted business confidence, which hit a 27-month low during August. Market uncertainties and the cost-of-living crisis heavily weighed on optimism and suggests a gloomy performance in the months ahead.”
Innovators to share in £150K prize fund and other business growth support measures
A host of University of Edinburgh students and alumni who have founded their own startup companies are celebrating after taking honours at this year’s Scottish EDGE Awards.
Xiaoyan Ma, founder of Danu Robotics, an innovative business focused on developing sustainable technological solutions for the benefit of the environment, was named among this year’s main award winners. The company secures £75K in grant funding to accompany its award.
Three other company founders, which have also been supported by Edinburgh Innovations (EI), the University’s commercialisation service, were named as Young EDGE winners. They include Alex Hodson of Podspectrix; Niall McGrath of Robocean; and Elena Höge of Yaldi Games.
Meanwhile Ioannis Stasinopoulos of Prozymi Biolabs, a further EI-supported startup, was named as a Wildcard EDGE award winner. Between them, the four companies will share a further £45K in grant funding along with their awards.
The annual Scottish EDGE Awards, aimed at identifying and supporting Scotland’s up-and-coming, innovative, high-growth entrepreneurial talent, recognises and supports entrepreneurs and startup businesses.
Funded by the Hunter Foundation, the Royal Bank of Scotland, the Scottish Government, Scottish Enterprise and private donors, the competition is delivered twice annually and has to date supported 395 early-stage Scottish businesses with over £15m in award funding.
The winners from this year’s Scottish EDGE Awards will share in more than £150K ingrants and benefit from other forms of support and mentoring to help them maximise their growth aspirations.
John Lonsdale, Head of Enterprise Services from Edinburgh Innovations said:“We congratulate all the University of Edinburgh students and alumni in their success at this year’s Scottish EDGE Awards.
“We are delighted to have supported these emerging companies, all of which are focused on developing innovative solutions to some of the key challenges facing society.
“As an organisation committed to helping University of Edinburgh startups reach their full potential, Edinburgh Innovations is proud of its role in supporting entrepreneurs who are driving economic growth in Scotland and beyond.”
International Trade Secretary welcomes US counterpart Ambassador Tai to Aberdeen to discuss how transatlantic trade is delivering for the people of Scotland and the rest of the UK.
Talks focus on key sectors for Scottish economy and bring together iconic Scottish businesses including Walker’s Shortbread and innovative energy SME, Enpro-Subsea.
Figures show US investment is supporting over 100,000 jobs and generating nearly £50 billion for the Scottish economy.
The UK will today host the second transatlantic trade dialogue in Aberdeen aimed at boosting our £200 billion trade partnership with the US.
Against a backdrop of Aberdeen’s flourishing tech scene and world-leading energy sector, the dialogue will focus on agreed priority areas including digital and innovation, green trade, supporting SMEs and supply chain resilience.
Latest figures show the importance of transatlantic trade to Scottish workers, businesses and industry:
Nearly a quarter of the nation’s services exports are to the US
Scotch whisky exports continues to play a vital role in wider UK-US trade, with almost two thirds of beverages exported to the US coming from Scotland
The US is Scotland’s number one foreign investor, according to EY
US-owned businesses support over 100,000 jobs, generating nearly £50 billion for the economy
The Secretary of State for International Trade Anne-Marie Trevelyan will discuss the importance of trade for creating jobs and spreading economic opportunities throughout the UK – a key part of our levelling up agenda.
The dialogue will convene leaders from across Scottish, central and local government, a wide range of businesses as well as trade unions and civil society groups such as Trades Union Congress.
International Trade Secretary, Anne-Marie Trevelyan, said:“This dialogue gives us a platform to explore more modern, digital ways of trading. It will identify and resolve barriers to trade to make it cheaper and easier for businesses in Scotland and throughout the UK to do business with our US friends.
“As two leaders in green innovation, it also gives us the opportunity to harness trade to tackle shared challenges such as climate change.
The Trade Secretary met with leaders from Scotland’s food and drink industry including Walker’s shortbread and Clootie McToot last night.
Attendees also included US spirits company Brown-Forman which owns three of Scotland’s top distilleries GlenDronach, Benriach and Glenglassaugh and employs hundreds of people in the UK. The firm hailed the lifting of tariffs on US whiskey thanks to the recent resolution of the S232 steel and aluminium tariffs dispute, and revealed it is now planning a multi-million pound investment in its Scottish facilities.
Ahead of the dialogue, Trevelyan and Tai will visit offshore energy SME, Enpro-Subsea in Aberdeen where Trevelyan will highlight the UK’s energy strategy aimed at securing energy security and independence, while we support the transition from fossil fuels to new technologies. The company demonstrates that achieving our environmental goals must go hand-in-hand with an evolving North Sea industry.
Discussions at the dialogue will provide a solid foundation for further engagement with the US. This includes ongoing work at a state-level such as mutual recognition of qualifications as well as continuing to remove barriers to trade.
The Government has already helped lift the ban on UK exports of lamb and beef and resolved the Large Civil Aircraft dispute, which removed 25 percent tariffs on Scotch whisky, resulting in huge wins for Scottish producers and exporters.
UK Government Minister for Scotland Iain Stewart said: “We’re delighted to host today’s talks in Aberdeen, marking a positive development in our already strong trade relationship with the US. Improving our partnership will create new high-quality opportunities for businesses in Scotland, including from our thriving food and drink, tech and energy sectors.
“At a time when we face immense global challenges, joining with our friends in the US to lift barriers, improve communication and encourage new and innovative ways of working together will support jobs across Scotland and beyond, benefiting businesses of all sizes.”
Shevaun Haviland, Director-General of the British Chambers of Commerce, said: “The UK and US are natural trading partners. These dialogues are an opportunity to build on that relationship and set new ambitious standards on sustainable trade. In a shifting and uncertain world, we must also take this opportunity to reinforce the resilience of our supply chains and stabilise prices.
“Smaller businesses make up the majority of our membership, and the UK economy, so it’s vital they are given a voice in these talks and that they get to reap the benefits on both sides of the Atlantic.
“Supply chain disruption and soaring inflation have reduced the operating margins of many small firms to almost nothing, so reducing the costs of trade with the US would be a huge boost for them. This would then help communities right across the UK to see the benefits that improved trade with the US could bring.”
Allan Hogarth, Executive Director of the Scottish North American Business Council (SNABC) said:“The SNABC is very much looking forward to participating in the Aberdeen session of the Transatlantic Dialogue, building on the success of the Baltimore session last month.
“These discussions will cover vital areas to the Scottish, UK and US economies – it is a great opportunity to make sure Scottish voices are heard on this, our single biggest export market, and to try and make it simpler for us all to continue to prosper and strengthen the transatlantic relationship for our mutual benefit.”
According to EY’s Attractiveness Survey Scotland, June 2021 , the US was the largest contributor of Scottish FDI projects in 2020. The 38 investment projects originating from the US accounted for 35.5 percent of all projects recorded in Scotland in 2020.
Investment can help create more high quality start-ups
Work to create the best opportunities for entrepreneurs is helping transform Scotland into one of Europe’s leading economies to start or grow a technology business.
Building on the entrepreneurial ambitions set out in the National Strategy for Economic Transformation, Economy Secretary Kate Forbes said work is underway – backed by £45 million of investment – to help transform Scotland’s tech sector.
During a parliamentary statement Ms Forbes highlighted progress made to date to implement the Logan Review. Actions include:
finalising arrangements for five new Tech Scaler hubs, with the potential to create more than 300 high quality start-ups, that will offer mentorship support to budding entrepreneurs. These new hubs, located around the country, will help to ensure new and existing tech innovators have access to high quality commercial education
establishing a £1 million Scottish Tech Ecosystem Fund providing support for organisations to deliver meet ups and events which create the best environment for entrepreneurs to succeed
investing more than £1 million in new devices and equipment to support teaching of computing science
appointing teachers who will drive improvements in equipment and training while sharing best practice
allocating £1.5 million for reskilling – including support for those on low incomes to gain digital skills
A Chief Entrepreneur Officer will also soon be appointed in the Scottish Government to help ensure entrepreneurship ambitions are embedded in policy development.
Ms Forbes said: “The Scottish Government is committed to the most radical reforms of the Scottish entrepreneurial system since devolution. Our ambition is to establish Scotland as one of Europe’s leading start-up economies.
“These game changing tech scalers will deliver one of the most sophisticated and comprehensive state-funded environments in Europe for the creation and growth of start-ups.
“Tech scalers will put Scotland on the global start-up map and we will promote their services relentlessly to attract the world’s best talent to scale up their businesses in Scotland.
“A key ambition in our strategy to transform the economy is to help establish Scotland as a world-class entrepreneurial country, founded on a culture that encourages, promotes and celebrates entrepreneurial activity.”
Mark Logan said: “These coordinated initiatives are part of the most significant strategic investment in Scotland’s high-technology industry ever seen in Scotland.
“Together, they create the perfect environment for starting and scaling technology-based businesses, with the many opportunities for our people that will result from that. It’s a very exciting time for the sector.”
UP TO £660 PER YEAR COULD BE SLASHED FROM HOUSEHOLD INCOME
In a letter to the chancellor last week, the Bank of England stated that it expected inflation to be “around 8 per cent” this spring. With Universal Credit set to rise by just 3.1 per cent in April, families with children on universal credit now face a real-terms cut of around £660 per year, on average.
This is an increase on Child Poverty Action Group’s original analysis which showed a cut of £570, when inflation was expected to be 7.25 per cent.
The £20 cut to universal credit last October plunged out-of-work benefits to their lowest level in 30 years. Latest analysis shows that the picture for families is going from bad to worse.
Without government action, families will be pulled deeper into poverty. Increasing benefits by anything less than 8 per cent risks pushing those with already stretched budgets past breaking point.
Anti-poverty charities wrote to the Chancellor last weekcalling for a minimum 7% benefits rise:
Prices are rising at the fastest rate in 30 years, and energy bills alone are going to rise by 54% in April. We are all feeling the pinch but the soaring costs of essentials will hurt low-income families, whose budgets are already at breaking point, most.
There has long been a profound mismatch between what those with a low income have, and what they need to get by. Policies such as the benefit cap, the benefit freeze and deductions have left many struggling.
And although benefits will increase by 3.1% in April, inflation is projected to be 7.25% by then. This means a real-terms income cut just six months after the £20 per week cut to universal credit.
Child Poverty Action Group’s analysis shows families’ universal credit will fall in value by £570 per year, on average. The Joseph Rowntree Foundation has calculated that 400,000 people could be pulled into poverty by this real-terms cut to benefits.
The government must respond to the scale of the challenge. Prices are rising across the board. Families with children in poverty will face £35 per month in extra energy costs through spring and summer, even after the government’s council tax rebate scheme is factored in. These families also face £26 per month in additional food costs. The pressure isn’t going to ease: energy costs will rise again in October.
A second cut to benefits in six months is unthinkable. The government should increase benefits by at least 7% in April to match inflation, and ensure support for housing costs increases in line with rents. All those struggling, including families affected by the benefit cap, must feel the impact.
Much more is needed for levels of support to reflect what people need to get by, but we urge the government to use the spring statement on 23 March to stop this large gap widening even further. The people we support and represent are struggling, and budgets can’t stretch anymore.
Alison Garnham, Chief Executive, Child Poverty Action Group
Emma Revie, Chief Executive, The Trussell Trust
Graeme Cooke, Director of Evidence and Policy, Joseph Rowntree Foundation
Morgan Wild, Head of Policy, Citizens Advice
Dan Paskins, Director of UK Impact, Save the Children UK
Imran Hussain, Director of Policy and Campaigns, Action for Children
Thomas Lawson, Chief Executive, Turn2us
Sophie Corlett, Director of External Relations, Mind
Dr Dhananjayan Sriskandarajah, Chief Executive, Oxfam GB
Caroline Abrahams, Charity Director, Age UK
Eve Byrne, Director of Advocacy, Macmillan Cancer Support
Kamran Mallick, CEO, Disability Rights UK
Katherine Hill, Strategic Project Manager, 4in10 London’s Child Poverty Network
Karen Sweeney, Director of the Women’s Support Network, on behalf of the Women’s Regional Consortium, Northern Ireland
Satwat Rehman, CEO, One Parent Families Scotland
Mark Winstanley, Chief Executive, Rethink Mental Illness
James Taylor, Executive Director of Strategy, Impact and Social Change, Scope
Irene Audain MBE, Chief Executive Scottish, Out of School Care Network
Steve Douglas CBE, CEO, St Mungo’s
Richard Lane, Director of External Affairs, StepChange Debt Charity
Robert Palmer, Executive Director, Tax Justice
Claire Burns, Director, The Centre for Excellence for Children’s Care and Protection (CELCIS)
The Disability Benefits Consortium
Dr. Nick Owen MBE, CEO, The Mighty Creatives
Peter Kelly, Director, The Poverty Alliance
Elaine Downie, Co-ordinator, The Poverty Truth Community
Tim Morfin, Founder and Chief Executive, Transforming Lives for Good (TLG)
UCL Institute of Health Equity
Dr Mary-Ann Stephenson, Director, Women’s Budget Group
Natasha Finlayson OBE, Chief Executive, Working Chance
Claire Reindorp, CEO, Young Women’s Trust
Businesses in Scotland are also calling for the Chancellor to announce new measures to help with rising costs ahead of his Spring Statement tomorrow, according to a recent survey from Bank of Scotland.
As inflation hits the highest levels seen since 1992, over half (55%) of Scottish businesses said that direct help with energy bills and rising costs tops their wish list for the Chancellor. This was followed closely by calls for a reduction in VAT, cited by two-fifths (40%), while almost a quarter of firms (23%) want increased funding to help create new jobs and develop skills.
Rising prices remain a key challenge for business. Almost half (46%) of respondents said they are concerned about having to increase the costs of goods and services and over one in ten (14%) stated that inflation is reducing profitability. Almost one in ten (9%) said rising prices had caused them to worry about having to make staff redundant and a further one in ten (9%) were concerned about not being able to pay their bills.
To help specifically with rising prices Scottish businesses are asking the Chancellor for a VAT reduction (46%), while a third (35%) have called for grants to cover rising energy costs. A further quarter (23%) called for grants to support investment in energy saving measures.
The data comes as businesses face continuing supply chain challenges, which are reducing the availability of stock (40%), causing hikes in freight costs (39%) and disruption through Rules of Origin and VAT requirements from EU suppliers (33%).
Fraser Sime, regional director for Scotland at Bank of Scotland Commercial Banking, said:“Rising prices are causing multiple challenges for businesses across Scotland and the pressure from inflation shows no sign of abating in the near-term.
“As we wait for the Chancellor’s Spring Statement, we’ll continue to remain by the side of business in Scotland and support the country’s ongoing economic recovery from the pandemic.”
Responding to the ONS public sector finances statistics for FebruaryChancellor of the Exchequer, Rishi Sunak said:“The ongoing uncertainty caused by global shocks means it’s more important than ever to take a responsible approach to the public finances.
“With inflation and interest rates still on the rise, it’s crucial that we don’t allow debt to spiral and burden future generations with further debt.”
“Look at our record, we have supported people – and our fiscal rules mean we have helped households while also investing in the economy for the longer term.”
All will be revealed when the Chancellor delivers his Spring Statement (Budget) at Westminster tomorrow.
Seniorpupils from North Berwick High School have been named as runners up as part of a competition to find the most promising next generation of business investors.
The young women, aged 16-18, were recognised in the Growing Future Assets Competition, a contest to nurture future female investment experts and encourage them to consider a career in the industry.
But the winning teams faced tough competition to triumph in the finals, with entries up by a record-breaking 300% this year.
The girls from North Berwick High School were runners up in the senior 16 -18 age group category, winning £500 for the school and £100 of vouchers each.
The team from Lochaber High School in Fort William won the senior competition collecting £1000 for the school and £200 of vouchers of the students’ choice for each team member.
North Berwick High School team members Bethan, Marcia and Keira say: “We really enjoyed getting an insight into the world of investment and are inspired to continue to find out more.
“Working closely with our mentor Amanda was massively helpful, she supported us with the financial aspect of the competition and gave great presentation tips, which will give us a competitive edge in our future careers.
“The Growing Future Assets Competition has given us unparalleled knowledge which we otherwise wouldn’t have had, and we would encourage young people curious about business and finance careers to get involved in the future.”
In the 13-16 year category, the team from Larbert High School, Falkirk, came out top and runners up were girls from Bishopbriggs Academy, East Dunbartonshire.
Financial educators Future Asset believe that being female should never be a barrier to progressing in a chosen career and the contest introduces senior schoolgirls to potential careers in investment, demonstrating how working in the sector can change the world for the better and give young women valuable, transferable skills.
Business Education teacher for North Berwick High School, Hannah Fox says:“The competition offers more than a chance to gain an insight into the investment industry via task completion, it opens doors to valuable industry mentors and opportunities for work place visits.
“It is genuinely the most valuable educational competition I’ve worked on and would not hesitate to recommend it to educational peers.”
During the competition youngsters had to prove their ability to spot the next big investment prospect by researching, analysing and pitching a company, from a selection of 38 businesses, they considered a great long-term venture.
The North Berwick High School team alongside two other teams pitched renewable energy company Ørsted, the fourth picked Accsys Technologies which produces high-performance building material from renewable wood sources. All considered environmental sustainability of central importance.
Mairi Dudley, Head of UK Market Development at Ørsted, said: “We are honoured to have been chosen by so many of these high-achieving girls as their investment of choice. As the world’s most sustainable energy company, we hold social sustainability and inclusion at the highest value.
“Reducing barriers and widening participation in traditionally male-dominated industries is vital for us to keep achieving our goals and protecting the environment. It’s inspiring to see these values held in such high esteem by future generations.”
More than 80 groups, totalling almost 370 girls, took part from all over Scotland. They were mentored by more than 80 investment management professionals offering advice, inspiration and career insights, and supported by teachers.
Fund Manager for Artemis and judge for the Senior competition, Neil Goddin says: “What a fantastic finals day we had; the standard of presentations was extremely high and all the teams, both in the final and the wider competition, should be proud of the effort they put in.
“Watching the confidence and knowledge levels grow through the competition was great to see and I am sure we will see lots of young females joining the asset management in the coming years.”
More than 80 groups, totalling almost 370 girls, took part from all over Scotland. They were mentored by more than 80 investment management professionals offering advice, inspiration and career insights, and supported by teachers.
Chief Operating Officer for Martin Currie, Jennifer Mair says:“Martin Currie recognises the value of a diverse workforce and we partner with a number of organisations to grow diversity in the investment management industry.
“We support Future Asset with their aim of informing female talent about financial services and the range of possible career opportunities in the sector. We were delighted to act as mentors for and share insights with the team from North Berwick High School. We are very proud of their achievement in the recent Growing Future Assets Investment Competition.”
Helen Bradley, Future Asset programme manager, says: “The judges were hugely impressed by all the teams. The standard was fantastically high and all the presentations were worthy of industry professionals.
“The winning senior team, Lochaber High School, delivered passion and commitment that the panel felt was unrivalled.”
Entries are now open for VIBES – Scottish Environment Business Awards, and companies across Scotland of all sizes with a green ethos that have demonstrated significant business benefits from good environmental practice are being encouraged to enter.
The VIBES – Scottish Environment Business Awards are a partnership between the Scottish Environment Protection Agency (SEPA), The Scottish Government, Energy Saving Trust, Highland & Islands Enterprise, Scottish Enterprise, South of Scotland Enterprise, Scottish Water, Zero Waste Scotland and NatureScot.
This year’s award categories include: Leadership Scotland, Innovating Scotland, Product Scotland, Service Scotland, Hydro Nation Scotland, Circular Scotland, Moving Scotland, Adapting Scotland, Engaging Scotland, Partnership Scotland, Small Business Scotland.
Businesses in Scotland have already felt the impact of the risks associated with climate change, and food producers and whisky distillers were faced with water scarcity last summer furthering the drive for positive and radical environmental action.
Organisations are being encouraged to follow the example of firms such as Vegware and Paterson Arran Ltd. who have shown that environmental best practice can also bring economic benefits including financial savings, an engaged workforce, positive working culture and improved competitiveness as well as contributing towards a better economy and society as a whole.
Since its inception in 1999, the VIBES Scottish Business Awards, have recognised and rewarded businesses that have championed sustainability by identifying ways to tackle the impact on the planet by reducing consumption on its resources.
This has included everything from increasing recycling and facilitating active travel to reducing consumption of raw materials by adopting a more circular approach.
Bob Downes, chair of SEPA and head of the VIBES judging panel, said: “Scotland is a leader in climate change action and successful businesses recognise the economic benefit from driving environmental innovation and best practice.
“Every business in the country has a role to play in leading Scotland to Net Zero. The VIBES awards recognise those businesses that are developing sustainable solutions and helping to achieve net zero of all greenhouse gases by 2045.
“We are looking for entries from businesses who are taking the lead in the transition to a net zero emissions economy through innovation, partnerships, circular economy, adaptation and a commitment to making the environment a key factor in decision making.
“These creative and pioneering organisations will be those who champion best practice and create sustainable goods, products and services through leadership, innovation and ambition, making a positive environmental impact protecting our plant for future generations.”
Prize-winning SMEs to take the stage at Scotland’s national innovation summit
The Summit announces new keynote speaker, Mari-Anne Chiromo, Entrepreneur and Business Growth & Effectiveness Specialist
Three of Scotland’s most innovative SMEs have secured a global audience spot at the CAN DO Innovation Summit after entering a competition to appear on the events #SMEstage.
The successful candidates; FC Laboratories Ltd, Cheemia ReSET and Danu Robotics Ltd, will join a host of world-class speakers, addressing an audience of over 800 investors, academics, entrepreneurs and innovators at the third-annual event held virtually on 23rd February 2022.
The competition, open to all small and medium sized Scottish businesses, required applicants to submit a short video demonstrating how their business drives innovation that is creating solutions to society’s biggest challenges.
The three winners were chosen from a wide variety of high-quality submissions and will now claim their prize spot on the Summit’s SME stage and will also benefit from two days of support from an Innovation Specialist at Scottish Enterprise worth £2K to help take their idea to the next level.
This year’s virtual CAN DO Innovation Summit will connect start-ups and SMEs with leading innovators, entrepreneurs, and academics from across the globe to explore new opportunities that marry purpose and profitability. It will feature a speaker line-up of over 40 multi-sector SMEs and a range of innovation support agencies across 12 industry-led panel sessions.
Keynotes, panel discussions and live Q&A sessions will run throughout the day covering practical insights on how people power, combined with the right tech, as well as sustainable and inclusive business practices can accelerate and enable a smoother digital transformation journey for businesses.
Mari-Anne Chiromo, Entrepreneur and Business Growth & Effectiveness Specialist at Apple is the latest name to join the selection of world class keynotes speaking at the event.
Further speaker highlights on the day include:
Kate Forbes MSP, Scottish Government
Wade Davis, Feminist, Former NFL Player and Educator on gender, race, and orientation equality (consulted with Netflix, Google and Viacom)
Gayemarie Brown, Forbes Top 25 Futurist, plus many more.
Delegates from a range of sectors – from fintech and health to manufacturing and the creative industries – have already signed up to this year’s event looking to expand their networks, learn about progressive workplace cultures and business models, and make connections for innovative project collaborations.
Dr Laura Bell of the CAN DO Innovation Summit, said:“Recent social and economic changes have created unprecedented challenges for SMEs and we would encourage them to attend the CAN DO Innovation Summit to be part of our vision of making Scotland a world-leading entrepreneurial nation.
“This virtual focal point for business will help SMEs adopt new technologies, build progressive working cultures and access the right support for innovation-led recovery and growth. We have a wide selection of world-leading speakers lined up for the event, as well as interactive sessions which can benefit SMEs across all sectors.
“I’d like to thank our panel of judges for selecting three excellent winners to take their well-earned place in the spotlight at the summit on the #SMEstage. We look forward to welcoming many more SMEs on 23 February.”
The #SMEstage competition winners were selected by an independent panel of judges made up of Evelyn McDonald, CEO at Scottish EDGE, Enoch Adeyemi, CEO at Black Professionals Scotland and Colin Meager, Innovation Team Lead, Scottish Enterprise.
FC Laboratories Ltd, Cheemia ReSET and Danu Robotics Ltd will appear at the Summit at 4pm to showcase how they are building innovation into their daily practices.
Colin Meager said: “It’s inspiring to see that, despite the economic and societal challenges we are facing, there are a wealth of entrepreneurs and businesses in Scotland using digital transformation to develop new business models and more innovative products and services.
“Winning the competition will give these businesses access to useful connections and support as well as linking them into invaluable practical support from Scottish Enterprise.”
Early Bird rates are available for a limited time. If you’re keen to attend the Summit but the cost would prevent you from attending, visit the CAN DO Innovation website for info on how to get access.
For more information on the event and to register, please visit:
Midlothian-based gift and stationery producer Southfield Stationers has merged with Edinburgh digital printer Digital Typeline Publications (DTP).
The newly, merged business will call upon the well-respected market presence of both brands to trade as DTP Southfield and will offer an extensive range of print services to an already wide array of markets.
DTP Southfield will bring together two skilled teams creating an experienced workforce of twenty. DTP Southfield will be moving from the current two locations to the twenty-thousand square feet, old paper mill building at Inveresk Mills in Musselburgh, East Lothian.
The assistance of East Lothian Council in bringing the business to the area will help facilitate future employment opportunities and other benefits to the local economy.
Alun Joseph, MD of DTP said: “I am excited we have merged with a company we have known and trusted for many years. The Southfield name is well respected in the market and I look forward to taking it forward.
“We will be growing our new facility and product range over the coming months and years while continuing to look after our existing customers with the level of service and all the products they know us for today.”
Family-owned DTP which has over thirty five years’ experience in print, was formed as a high street photo processing lab in 1983 and turned to digital print in 1994. A market leader in digital print service, DTP produces high-quality digital print with the ability to enhance print items with metallic, white and neon pink print as well as bespoke foiling, digital die-cutting and short run creative packaging.
Southfield has been providing a wide range of paper and stationery products for over forty years. For the last twenty its offering of gift items has expanded, making Southfield one of the premier suppliers to gift and craft shops around the UK.
Several customers of both companies have already expressed interest in the new products and possibilities from DTP Southfield. Notably, those in the hospitality sector, gift shops, and artists are keen to benefit from the products now available to them from the company they already know and trust.
Derek Muller, who is standing down as MD of Southfield Stationers, said: “As everyone became tired of seeing the same mass-produced products on display in every high street across the UK, we created a range of high-quality, bespoke giftware for UK retailers.
“We have always provided retailers with products that will stand out from the crowd, and all made in the UK.
“We also work with a lot of artists directly, working closely with them and their original artwork to create beautiful, hand-made gift ranges.
“I am proud of what we have built over the last forty five years and believe that the Southfield name and loyal customers will be looked after and continue to grow in the hands of Alun who will now lead the merged business.”
