SMEs on course to deliver £217bn to economy by 2020.
The findings of research delivered by the Centre for Economics and Business Research in collaboration with Hampshire Trust Bank says the £217n represents an 11% increase on the current contribution delivered by the SME sector.
Mark Sismey-Durrant, chief executive at Hampshire Trust Bank, said: “Our report demonstrates the critical importance of SMEs as the engine room of the economy. Their sizeable contribution to the fortunes of the UK economy – growing to 27% of total business contribution by 2020 – cannot be ignored. Our research with CEBR should be a source of optimism for the government and for employers as the strong future growth predicted suggests significant opportunity for investors, business owners and their employees.
Glasgow and Edinburgh feature as two of the top 10 cities by SME contribution to the UK economy. Edinburgh is expected to grow from £4bn (2015) to £5bn by 2020.
Bid to turn Arran into first Living Wage island
Arranshand Business Develop Services Ltd is trying to encourage all the companies on the island to pay the living wage.
Many of them are already paying near or above this level but just need an extra push to become accredited Scottish living wage employers, according to Derek Shand, managing director of Arranshand.
The main contractor on Arran for the provision of Business Gateway services on behalf of North Ayrshire Council, Arranshand looks after every business on the island.
This involves making sure all of them are aware of new legislation and being on hand to give business advice when required. Arranshand also delivers courses to make sure the island businesses stay ahead of the game.