Scotland's Economy

Scottish Business Buzz (15.06.16)

Business for Scotland Brexit Video Released – What Scotland needs to know before voting.

Business for Scotland last week released a video based on our research showing that a Brexit would impact very differently on Scotland’s economy. If you want the Scottish economic facts rather than the exaggerated campaign spin from both London centric campaigns then find a few minutes to watch this video before you vote.

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 Screen Shot 2016-06-13 at 09.55.59€3.9 million innovation funding from European Commission for tidal energy

Awarded under the Fast Track to Innovation scheme by the European Commission, split between InToTidal and Ocean 2G projects the €3.9 million (£3.1m) funding will go toward supporting tidal energy testing and demonstration in Orkney waters.

Led by Tocardo, the InToTidal project will demonstrate deployment solutions for the company’s well-developed tidal turbines. The project’s partners are the European Marine Energy Centre (EMEC), Leask Marine, and Ifremer.

The Ocean 2G project is being led by Magallanes, and brings together EMEC, Leask Marine and ABB to help develop the second generation Magallanes tidal technology.

Oliver Wragg, EMEC’s commercial director, commented: “This is fantastic news for the ocean energy sector.

“I’m delighted that the EU is supporting full-scale testing and demonstration to help progress towards a commercially-viable industry.”

More on Business Quarter.

 Screen Shot 2016-06-14 at 11.42.26Live music in Scotland contributes £295m to the economy 

A new UK Music report revealed that 928,000 music tourists visited Scotland last year to attend a live concert to music festival, and along with contributing £295m to the Scottish economy, also helped sustain 3,230 full time jobs across the nation.

The report also highlights the city of Glasgow and breaks down economic and cultural scale and impact of live music and music tourism within the city, where last year 1.4 million attended music events including 449,000 music tourists, who generated £105 million in revenue for the city.

Alison Thewliss MP for Glasgow Central said:

“Glasgow has been recognised by UNESCO as a City of Music, and we are lucky to have a wealth of venues including the Barrowlands and King Tuts, to the City Halls and the Royal Concert Hall, the SECC and the Hydro. Glasgow is also growing musical talent and reaching out to the world through the efforts of The Royal Conservatoire of Scotland. Last year alone, almost half a million music tourists came to Glasgow, providing over 1100 jobs for local people and a boost of over £100 million to the city’s economy.”

More on this story.

Screen Shot 2016-06-14 at 10.17.50Conference celebrating micro-businesses kicks off in Edinburgh 

The annual Small is Beautiful international event takes place this week at the Lyceum Theatre on 15th June.

The conference is aimed at small business owners and entrepreneurs who want to learn from some of the world leaders in micro-enterprise, meet other creative business owners and improve their business practices.

This year, speakers include Carl Honoré, international ambassador for the Slow Movement, John Thackara, writer and founder of the Doors of Perception, current Makar Jackie Kay, author and poet, Alexa Clay, author of the Misfit Economy, and Brennan Dunn, founder of

Roanne Dods, co-producer of Small is Beautiful said: “Over 95 per cent of us in the UK work in micro-enterprises and we know this figure is growing.”

“We have pulled together a group of outstanding international speakers committed to this way of working to provide inspiration and practical insight, as well as a little provocation and humour.”

Full story in The National.

Screen Shot 2016-06-14 at 10.20.18Liberty House forges 100 new steel jobs at Clydebridge and Dalzell

After taking over the ailing Clydebridge and Dalzell plants from Tata Steel in April, Liberty House Group have unveiled a first phase of new recruitment.

The group, which has been working with the Scottish Government and Scottish Enterprise, will seek to re-employ at least some of those who lost their jobs when the works were mothballed last October.

A new range of apprenticeships are being created ranging from Modern Apprenticeships in Engineering, Finance and Commercial Planning, to Foundation Apprenticeships and Graduate Apprenticeships.

John Bolton, chief executive of the plate division, said: “This moment marks a significant milestone in the process of bringing the steel business in Scotland back to life.

“It is a just reward for the dedication of the skilled workers who had to leave the business and it also presents an opportunity for new employees to join the Liberty family.”

It comes after public support from the Scottish Government, who worked with Liberty and other stakeholders to ensure the transformation could happen.

More on this story.

You might also be interested in: A forced Brexit changes Scotland’s constitutional debate | The EU is a Huge Economic Opportunity for Scotland and its SMEs 

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About the author

Rhona Middler

Rhona was Business for Scotland's Engagement Executive and Events Manager.

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