Great news for manufacturing in Scotland with the news that Rolls Royce is to invest £60 million in its engine plant in Inchinnan.
According to Mike Mosley, Rolls-Royce, supply chain chief operating officer: “Rolls-Royce is focused on transforming our global industrial base to develop our world-class, competitive supply chain, concentrating investment in high-technology and high-intellectual property in key areas to help us deliver to customers.
“Our investment in Inchinnan demonstrates our commitment to innovative technology and world-class facilities which will improve performance and drive profitable growth for our business. We recognise the dedication and flexibility of the Inchinnan workforce who continue to play a key role in the success of Rolls-Royce.”
Rolls-Royce initially invested £85 million in the facility at Inchinnan and has continued to invest over the last decade.
You can read more on this story in the Daily Business
Late payment is a huge burden on SMEs and has been the downfall of many a business, indeed SMEs are currently owed £26 billion in late payments.
But now there are plans to crackdown on late payment and ensure large firms can no longer bully their smaller suppliers.
A small business commissioner will be appointed to take on complaints by businesses and offer advice to them. A mediation service will also be set up.
Small business minister Anna Soubry said: “The government is backing small businesses to grow and create more jobs and opportunity.
“Small businesses are owed £26 billion in late payments and spend millions more chasing down money they have already earned through hard work. This is simply unacceptable – it limits their growth and productivity, and can put an otherwise successful business at risk.
“The small business commissioner will tackle the imbalance of bargaining power between small suppliers and large customers, and encourage them to get round the table and sort out disputes at a fraction of the cost of going to court. It will also provide advice, investigate complaints and see where further action is needed to clamp down on unfair practices.”
A new £3million fund has been launched to allow Chinese whisky connoisseurs to invest in some of Scotland’s rarest drams.
The fund has been generated by members of the Single Malt Club China (SMCC), and will be used to buy rare and valuable malts, such as limited editions or bottles from single caskets.
The SMCC was set up in 2005 and the value of its Scotch Whisky imports have grown at a “double-digit” rate every year since. Last year it imported 60,000 bottles, and the £3million Whisky Investment Fund is expected to grow that figure by a further 20% next year.
Raymond Lee, Founder and Chairman of the Single Malt Club China, added: “Single Malt Club China constantly strives to promote the love of single malts, which is the pinnacle of enjoyment in spirits.
“Understanding Scottish culture is an integral part of enjoying whisky, which makes single malt Scotch even more enjoyable.”
Aberdeen Business News has more on this story.
And finally, how would you like to be paid £2500 to be a CEO for a day?
Scotland’s ‘unicorn’ business Skyscanner has launched a competition to find someone to run the company for a day – in return for their opinions.
The idea belongs to current CEO Gareth Williams’, who believes that “fresh insight” is needed to further shape the travel comparison business. The winner will be required to “provide insight” into Skyscanner’s flights, hotels and car hire price comparison services – what they like and what should be added and they will also test changes to the website and comment on the company strategy.
To win, all you have to do is say in 50 words why you should be chosen. More here.