investment – Page 2 – The NEN – North Edinburgh News

Edinburgh hosts Barbados investment event

A touch of the Caribbean came to Edinburgh on Tuesday evening as it hosted a diplomatic and business event at Norton House Hotel, bringing together Scottish business leaders.

The event showcased investment opportunities on the Caribbean Island of Barbados and signals another return to normalcy as Scotland emerges from the COVID-19 pandemic.

The reception was hosted by Invest Barbados, the economic development agency of the government of Barbados and Business Friends of Barbados (Scotland).

Speakers included the Barbados High Commissioner to the UK, Milton Innis; CEO of Invest Barbados, Kaye-Anne Brathwaite and Chairman of Business Friends of Barbados, Ian Gittens.

Famed as a popular tourism destination, attendees heard how Barbados offers a warm and welcoming investment climate. The island boasts ambitions to become a “digitally enabled nation” and is well on track to achieving the goal of 100 per cent renewable energy generation by 2030, delivering a carbon-net-neutral target. The opportunity is ideal for those looking for more information and greater links with Scotland.

Attendees heard how investment opportunities for exploration include niche manufacturing, global banking, information, and computer technology (ICT), global education, food and drink, wealth management, insurance, renewable energy, and medical tourism among others.

The investment event comes hot on the heels of the recent announcement of Scotland’s only direct route to the Caribbean, with Virgin Atlantic launching a connection from Edinburgh to Bridgetown, Barbados, set to launch on 5^th December.

It also comes as a precursor to a trade mission to the island from Scotland, which will take place from 22-27 November 2021, the first in-person mission to Barbados since the start of Covid in early 2020.

Of additional interest is an innovative and highly successful ‘Welcome Stamp’ (introduced at the beginning of the COVID-19 pandemic), which enables individuals to stay and work remotely on the island without changing their tax residency.

It also has the lowest structure of income tax rates and some of the most competitive personal income taxes. Additionally, Barbados is a gateway to investment in the wider Caribbean and Latin America.

The island has historic links with Scotland, with strong Scottish immigration as well as having its own Scotland District on the east coast of the island, named due to its physical similarities with Scotland, located appropriately within the Saint Andrew Parish.

Barbados also hosts an annual Celtic Festival which takes place each spring (Covid permitting); this includes pipers, dancers, choirs, a haggis night, and a rugby tournament. The island also boasts its own tartan – the first Caribbean tartan to be registered in Scotland.

Barbados’ educational system is also renowned globally, with a literacy rate of 99.7 per cent, one of the highest in the world, delivering a highly talented workforce.

CEO of Invest Barbados, Kaye-Anne Brathwaite (above) , said: “We were delighted to host this event. Scotland has long and well-established links with Barbados and will become even more connected with the commencement of direct flights from Edinburgh in December.

“Barbados remains an incredibly desirable place to do business and is a stable political and economic jurisdiction. Our welcoming investment climate compliments the enviable quality of life that we offer.

“Our novel Welcome Stamp has also proven globally popular, enabling individuals to stay and work remotely on the island without changing their tax residency.

“Barbados is a long-established hub for global business and you’re invited to grow your business here.”

New Indoor Activity Centre at Conifox Adventure Park

Adventure park bounces back bigger and better post-pandemic

Conifox Adventure Park in Edinburgh is preparing to welcome back fun seekers with an even bigger and better offering that will quadruple business and boost local employment.

The team behind the popular visitor attraction on the outskirts of Kirkliston have taken advantage of the enforced pandemic closure to create a new indoor activity centre providing additional facilities including an indoor play barn with soft play, parenting room, three party rooms, café and 200-seater function suite.

Conifox Adventure Park already boasts a huge outdoor space with attractions for adults and children of all ages including a 9-hole footgolf course, pedal go-karts, off-road pedal tractors, supersized sand pit, kid’s pedal tractor farm, springers, giant jump pillow, trampolines, swings, balance beams, rope bridge, and much more!

It now anticipates the new facilities, which represent a £2m investment and covers 35,700 sq ft, will mark out the park as a go-to destination for families, wedding parties, school groups, conference and corporate event organisers and others looking for a unique indoor venue.

The development signals an optimistic return for the enterprise which has overcome the challenges of Covid-19 to not only survive but emerge with a business set to thrive better than ever – and provide up to 15 new jobs.

James Gammell, Director of Conifox Adventure Park, said: “The events sector has had a particularly challenging time this past year or so, but we’ve been able to put much of this period to great use creating a really special environment for a wide range of users.

“Although the pandemic slowed some things down it has given us the opportunity to ensure we re-emerge stronger than before with a bigger and better range of attractions. We aim to quadruple the amount of business we do.

“Our main idea with the indoor facilities was to combat the Scottish weather, enhance the business opportunities and put us on the Scottish attraction map, offering an all-weather destination with national appeal – we’re only 20 mins from Edinburgh city centre and accessible to visitors from all over Scotland and the central belt.”

The park, which complies with the Visit Britain Covid 19 We’re Good To Go industry standard, is also available for MICE events, book and Christmas fairs, private events and 200-guest weddings.

James added: “The space is adaptable and very versatile. We’re looking forward to welcoming a whole range of new visitors, as well as our returning guests who we’ve missed so much over the pandemic.”

To find out more visit the Conifox Adventure Park Facebook page @conifoxadventurepark and their website.

Investor confidence returning, says new research

Confidence levels are up, Millennials make their mark and interest in ethical investing hits new highs

Confidence levels amongst UK investors have risen 20 points (62 – 82) in the last 12 months according to new research amongst 1100 UK investors (£10k+).

The Investor Index, now in its second year, is conducted jointly by London-based communications agency AML Group and research agency The Nursery Research and Planning and was launched in April 2020 to assess the immediate impact of Covid 19 on investors and the UK investment marketplace.

The first report of its kind to provide an objective overview of the industry based on hard data,the study was welcomed as a barometer of post-Covid investor behaviours.

“57% of UK investors have changed their investment strategy since the pandemic started”

One year on, and still in the grip of the pandemic, the 2021 study has revealed some significant changes and ‘recalibrations’ amongst investors.

Confidence returns – but not to pre-pandemic levels

Over the past 12 months, confidence levels have risen most amongst older investors (55+) up 30 points (54 – 84), investors that are retired up 27 points (57 – 84), those that use financial advisers up 31 points (65 – 96) and investors with a portfolio of £200k+ – up 38 points (55 – 93).

The study has also revealed a disparity in gender confidence levels – with men indicating a 25 point rise over the last 12 months (61- 86) compared to a rise in confidence levels of just 10 points among female investors (65 – 75).

However whilst the results are cause for some degree of optimism – investor confidence levels are still 18 points down from pre-Covid levels.

Gen Z/Millennials Vs Baby Boomers – the emerging generational divide

10% of UK investors have started investing since the pandemic began – and of those new investors three-quarters (74%) are under 35s.

It’s a changing landscape with the younger investor bringing different attitudes and priorities to the investor table.

89% of under 35s have changed their investment strategy over the last year vs. 31% of 55+ investors. Younger investors are also increasingly looking to ESG products – with 27% including responsible investments in their portfolio compared to only 4% of investors aged 55 and older. Younger investors are also more focused on the long game – with 30% looking to longer term investments compared to 8% of investors 55+.

When it comes to investment decisions, younger investors are increasingly turning to family (40%), banks (30%) and friends (27%) for advice.

It’s a gift – investors demonstrate a change of attitude

57% of UK investors have changed their investment strategy since the pandemic started – with a focus on products offering ‘long term growth’ (46%) over ‘short term growth’ (30%).

Investors are increasingly concerned about their children’s financial security. 70% of investors are aware of the £3,000 wealth transfer allowance with 38% having given £500 or more over the last 12 months – with children the biggest recipients (72%). Indeed the average amount gifted in 2020 was £8087 compared to £5421 pre pandemic (2019) – a 49% increase and a clear indicator of the want for investors to safeguard futures for loved ones.

How invested is the UK investor in Responsible Investing?

Investors feel that ethical/socially responsible financial products are more important now than at the same time last year – up 9 percentage points (23% – 32%) with three in ten of those surveyed stating that they believe that these products will be more important in the future – up six percentage points (24% – 30%).

However despite investors acknowledging the importance of ESG/RI there is a continuing perception, despite contrary evidence, that it carries a performance penalty with investors ‘prioritising financial security over wider ethical considerations’ – up five percentage points (23% – 28%).

Younger investors look to DIY platforms

Since the start of the pandemic in March 2020, four in ten investors under 35 (39%) have invested more with DIY platforms – compared to just 14% of 55+. And while the younger investor has indicated a ‘happy to do it myself’ attitude regarding financial planning and investments they are less confident when it comes to their feelings about the industry. Just under one-third of under 35s (29%) are confident markets will bounce back compared to more than half (52%) of investors aged 55+.

Perhaps predictably, younger investors are more tapped into trends and news stories connected to investing.

39% of under 35s cited an awareness of the growth in DIY platforms with 44% familiar with the story around Reddit users driving up the share price of Game Stop and 31% aware of the rise in silver prices. Investors aged 55+ recorded significantly lower awareness across all trends.

Top 10 nine findings:

1. Investor confidence levels (overall index score) – 82 (up 20 points)

2. Confidence levels amongst men – 86 (up 25 points)

3. Confidence levels amongst women – 75 (up 10 points)

4. Confidence levels amongst under 35s – 74 (up 4 points)

5. Percentage of investors who have increased amounts invested since Covid-19 – 36%

6. Changed Investment strategy since the start of the pandemic – 57%

7. Ethical products considered more important now – 32% (up 9 percentage points)

8. Percentage of all new investors (in the last 12 months) that are women – 63%

9. Under 35s who have increased DIY investments since Covid – 39%

METHODOLOGY: 1,100 nationally representative interviews were conducted online in April 2021 from an adult sample with £10,000+ of investments. Respondents were recruited from Dynata’s online access panels. 7 in-depth interviews were conducted with a mix of IFAs and Wealth Managers – also in April 2021.

SP Energy Networks £1.58 billion plan for Scotland unveiled

SP Energy Networks sets out plans to invest £1.58 billion in Central and Southern Scotland between 2023 and 2028
Investment is critical to the UK hitting its Net Zero targets, with the UK set to see circa 30 million EVs hit the streets and 22 million heat pumps installed in homes by 2050.
Critical upgrades will be required to connect an additional 3GW of renewable generation as Scotland revolutionises transport and heating infrastructure at speed.
Proposals include £30m Net Zero Fund to support innovative, low carbon community projects across SP Energy Network’s licence areas.

SP Energy Networks has today launched its draft RIIO-ED2 Business Plan, detailing the £3.2 billion of investment required to ready the UK for an electric future, of which £1.58bn would be in Central and Southern Scotland’s distribution network.

Running from 2023 to 2028, the draft plan sets out SP Energy Networks’ vision for a network that can meet the challenge of Net Zero across 105,000km of network and 30,000 substations and will benefit millions of customers cross Scotland, England, and Wales.

The work will kick-start the much-needed growth in low carbon technologies required to reach the Scotland’s climate ambitions. Across Central and Southern Scotland, the investment would enable the connection of over 370,000 electric vehicles, 210,000 domestic heat pumps and an additional 3GW of low carbon electricity generation connected during the five-year period.

To help deliver this mammoth task, SP Energy Networks plans to recruit more than 1,100 green jobs across its licence areas (Central and Southern Scotland and Merseyside, Cheshire, North & Mid-Wales and North Shropshire), with thousands more indirect jobs supported over the five years.

Frank Mitchell, CEO of SP Energy Networks, said: “The scale of the task at hand cannot be underestimated. If the Scotland is to hit its Net Zero targets, we must deliver one of the largest, fastest upgrades of our critical infrastructure this country has ever seen.

“We deliver an essential public service – keeping the electricity flowing to 6 million people across 3.5 million homes and businesses. This is an important and privileged role and it’s one we never take for granted, but it is so much more than just ‘keeping the lights on’. This investment is vital and with five months to go until COP26, launching this plan shows our commitment to getting the job done for our communities across the Scotland.

“In RIIO-ED2, we need to respond to our customers’ changing needs as we move towards Net Zero. We’ve set out our plans to continue delivering exceptional service, supporting our most vulnerable customers, and taking on a more proactive role in our communities.

“Our customers already rate us at over 9 out of 10 for satisfaction and we plan on going even further. We will be a partner that supports their journey to Net Zero, bridging the gap from ambition to action to make sure that we leave no-one behind in the energy transition.”

At the heart of SP Energy Networks planned investment across its licence area is:

developing a network that’s ready for Net Zero by continuing to adapt the world-class network to be more resilient and more reliable, using innovative, flexible, and efficient solutions. Innovation and efficiency embedded in the plan will save £173m for customers.
being the trusted partner for customers, communities, and stakeholders by engaging more with customers and communities, supporting them by offering enhanced and tailored services, and going further for vulnerable customers. A proposed £30 million Distribution Net Zero fund will support innovative, low-carbon project proposals to enable communities to realise their ambitions, and £62.5 million of social benefits will be delivered through the provision of support services to more customers than ever before.
readying the business for a digital and sustainable future by embedding new digital approaches, innovation, and process redesign to save customers more than £60 million and by putting sustainability first in order to reduce our carbon footprint by 38% by 2028.

Frank Mitchell explains: “When the current infrastructure was built, homes used gas or solid fuel for heating with only twenty appliances running on electricity – compared to more than fifty now.

“Over the next two decades, we expect to see that demand rise significantly, as millions more electric vehicles and heating systems come online.

“Our network has served us well over the last fifty years. Now is the time to invest so it stands ready to continue that service in a truly decarbonised future.”

SP Energy Networks has engaged with over 15,000 customers and stakeholders on the Business Plan and will continue to engage and consult ahead of the submission of the final plan in December 2021.

Borderlands Deal will build on success of Edinburgh Napier-led Mountain Bike Centre of Scotland

The Borderlands Inclusive Growth Deal was signed yesterday, confirming millions of pounds of investment into the Scottish Borders.

Ministers of the UK and Scottish Governments and representatives of the five councils of the Borderlands Partnership signed the deal, which aims to drive inclusive growth and deliver significant and lasting benefits for individuals, businesses and communities, including the creation of up to 5,500 jobs.

For the Scottish Borders, investment will include:

· £19m for an ambitious project to create the world’s first Mountain Bike Innovation Centre, integrated adventure Bike Park and Trail Lab in Innerleithen (further details below)

· £11m Destination Tweed tourism project based around the River Tweed

· Funding to further develop the 7Stanes mountain biking network across the Borders and Dumfries and Galloway

· A share of £20m for town and community improvement projects through a Place Programme in the south of Scotland

· Funding for improved business infrastructure in Hawick and Coldstream

· Funds to support rural innovation and skills

· Projects to tackle gaps in digital and mobile infrastructure

· £10m to deliver the feasibility activity around extending the Borders Railway from Tweedbank to Carlisle

· Funding to support the generation of low carbon energy

· Pilot projects covering woodland, upland and agricultural areas to trial new approaches to valuing and protecting our natural capital to capture the benefits of our environment in a sustainable way

Councillor Mark Rowley, Scottish Borders Council’s Executive Member for Economic Regeneration and Finance, said: “The Borderlands Inclusive Growth Deal has been worked on by the various partners for a number of years and this level of investment and joined up partnership working has never been more important than it is today, as we look towards our recovery from the COVID-19 pandemic.

“This deal can transform the Scottish Borders, allowing multiple, large scale projects to be taken forward by the Council and a wide range of partners, delivering new jobs and sustainable growth which will help support the region for decades to come.

“Significant investment into our towns and communities, our tourism infrastructure and our environment means that this deal will see the benefits shared right across the whole of the Scottish Borders.”

Innerleithen Mountain Bike Innovation Centre/Tweed Valley Bike Park and Trail Lab

A key element of the Borderlands Growth Deal for the Scottish Borders is the development of a new mountain bike innovation centre in Innerleithen that will support Scottish, UK and international businesses to develop innovative products and services within mountain biking and across the cycling sector.

In addition, a Tweed Valley Bike Park and Trail Lab will be created in what is thought to be a global first in terms of combining tourism and innovation. An adventure bike park will deliver infrastructure to attract and sustainably manage visitors to the Scottish Borders.

Borderlands Growth Deal will invest £19million in the project, which is predicted to contribute £141m in Gross Value Added (GVA) and over 400 new jobs in the South of Scotland.

The project partnership includes South of Scotland Enterprise as project sponsors Scottish Borders Council, Edinburgh Napier University and Scottish Cycling, through Developing Mountain Biking in Scotland (DMBinS).

Ed Shoote of DMBinS, the Senior Project Manager of the Mountain Bike Project, said: “It is fantastic news that the Borderlands Inclusive Growth Deal, including the Mountain Bike Project, is pushing ahead.

“The vision is for the south of Scotland to be recognised as the European leader in mountain biking and this is an important step forward.

“There is still a lot of work to do to realise this vision and we will continue to work with the project partners and the local community to deliver the best project for the region.”

Councillor Mark Rowley added: “This project is a fantastic example of how projects funded by the Borderlands Inclusive Growth Deal can deliver multiple benefits, in this case attracting new businesses and jobs to the area and also attracting tourists from across the UK, Europe and beyond, building on the already well-established reputation of the Tweed Valley as one of the world’s top mountain biking destinations.”

Professor Nick Antonopoulos, Vice Principal for Research and Innovation at Edinburgh Napier University, said: “Today marks another important milestone for Edinburgh Napier and its partners in our journey towards making the South of Scotland the mountain bike capital of Europe.

“The Borderlands Growth Deal will build on the fantastic groundwork of the Mountain Bike Centre of Scotland, hosted by Edinburgh Napier University who have been supporting cycling innovation since 2012.

“This investment will take the work of Mountain Bike Centre of Scotland to the next level, helping to drive innovation and support product research and development, whilst working with local and international companies.

“Together, these projects will power commercial activity, attract inward investment and deliver positive outcomes in terms of public health and supporting carbon neutral products and processes.

“We are also hugely excited by the potential research opportunities for Edinburgh Napier colleagues across a range of academic disciplines, including exercise science, health and wellbeing, engineering, inclusion, product design, artificial intelligence, big data and tourism.”

South of Scotland Enterprise Chair, Russel Griggs OBE, added: “This is a transformational project which could really put the South of Scotland on the map as a global leader in the mountain biking industry.

“The potential wider economic and community benefits for the local area are significant in terms of inward investment and jobs, as well as bringing further UK and international tourism to the region.

“I am delighted the South of Scotland Enterprise will be working with various partners to realise this ambition.”

Briggs welcomes £3 million investment into CAHMS staff recruitment

Scottish Conserative health spokesman Miles Briggs MSP has welcomed the news that NHS Lothian are investing £3million into the recruitment of Children and Adolescent Mental Health Services staff. Continue reading Briggs welcomes £3 million investment into CAHMS staff recruitment

Edinburgh bright sparks wanted for ‘big energy ideas’

Edinburgh’s brightest businesses and entrepreneurs have the chance to gain funding and support that could turn their innovative energy idea into a reality, after an accelerator programme opened for 2017 applications this week. Continue reading Edinburgh bright sparks wanted for ‘big energy ideas’

New Lottery support to strengthen voluntary sector

Voluntary, community and social enterprise (VCSE) organisations will have the ability to improve their performance and sustainability, thanks to two new online tools supported by the Big Lottery Fund. Continue reading New Lottery support to strengthen voluntary sector

Green light for Partnership Centre

Partnership Centre construction starts next Spring

Around £330 million of investment in health and education facilities has been given the go-ahead by Deputy First Minister John Swinney. Among the projects to be given the green light is the long-awaited North West Partnership Centre in Muirhouse (above). Continue reading Green light for Partnership Centre

Your Credit Union needs YOU!

North Edinburgh Credit Union AGM TONIGHT!

North Edinburgh Credit Union’s annual general meeting will be held

on Thursday 12 March at 6.30pm

at NECU Office, 63 Wardieburn Drive

The Credit Union has been around since June 1986 and is getting a bit ‘tired’ – especially the current volunteers! If you want your Credit Union to continue we need volunteers who are younger and have fresh ideas to take the Credit Union forward.

We have at last updated our Rule Book and extended our Common Bond to taek in Live and/or Work in the designated map area, which has also been extended to Silverknowes, Craigleith, part of Comely Bank, Fettes, Ferry Road to Newhaven Road and down to Newhaven harbour.

The current committee has been talking to a new group called Water of Leith Credit Union (Community Bank) who have lots of new ideas (including technology) which would help take this Credit Union forward. Some of their committee will attend our AGM to give a short presentation and answer questions.

Why not join us to hear their views?

North Edinburgh Credit Union