Is it Scotland the brave or Scotland the cheap? Historically and perhaps idiomatically the people of Scotland have been seen to be penny pinchers, careful with their money and always saving for a rainy day. Well, not a rainy day. It’s Scotland, so make that a sunny, cloudless, blue sky day. If you’re looking at investing money here, then these images of Scotland are actually splendid! It shows, that over time, money has an excellent chance of growing here in the land of the kilted gentlemen.
The Scottish Business Bureau was established in 1998 by the British Prime Minister to promote investment for businesses wanting long term involvement. In fact, Scotland attracts more foreign investors than any other UK region, but not including London. There are some 2,000 foreign firms doing business in Scotland and their investment is about £100 billion. Yes, Scotland has that excellent offshore oil business and all the support services that go with it, but there are other reasons that overseas investors look at Scotland as being a better deal than London.
For a start, the operating costs in Scotland are 30% lower. Secondly, with all the foreign companies operating here, there is a crazy mix of cultures making the country a business-friendly environment. Another spinoff from that is Scotland offers a highly skilled and educated workforce, it’s close to major European markets, companies here are involved in some cutting edge Research and Development and it has the infrastructure to accommodate your new business with ease.
As mentioned earlier, Scotland’s traditional industries of Oil and Gas and financial services is already widely known internationally, but we have some growing industries here like biology research, chemical science and green energy. And don’t forget our shipbuilding and repair expertise. Marine design that extended from shipping to offshore oil platforms is a thriving business.
Some high technology companies have decided to establish manufacturing plants here. Through them, we produce engineering software and have a high involvement in aircraft construction with our space technology, which includes satellites, being patented here. The Scottish space and defence industry are also very active.
We can help your company make the most of the fantastic business opportunities available in Scotland. If you don’t want to set up a business, then trade with Scotland is another option. Products and services from this country are in high demand around the world. Identify the right suppliers and you can do a profitable business in Scotland.
5 Tips to Getting Established
- Register your company
- Plan some visits to Scotland
- Find some working partners for your Supply Chain and business development
- Link up with a recognised recruiting company
- Get involved with other Scottish based businesses
The government is able to offer assistance as well in the way of Tax incentives and Grants and you can get some real help with any R and D development, either through SMART SCOTLAND or through the local universities.
Don’t forget the special Enterprise areas available for new businesses. There are 16 separate sites across the country and establishing your company there has some significant benefits. For example:
- Discounted business rates of up to 100%
- Capital allowances
- High Speed internet connection
Will your new business create and protect jobs in the country? If the answer is yes, then you can apply for regional assistance through the government. It’s a win/win situation as employment helps to ensure the Scottish economy. The amount of support offered depends on the:
- Size of your business
- Location of your project
- Amount required starting the business
Will you enjoy the lifestyle of Scotland? Well, the standard of living is quite high. The schools are excellent and health care is free. Many tourists come to Scotland to experience the beauty of the countryside, but you will be living in it as if it was your own backyard. It’s a very cosmopolitan city with plenty of entertainment and with a friendly character.
There is room for many small businesses too because the workforce needs furniture for their homes, electronic goods for entertainment and to stay in touch with people, places to eat like food halls and restaurants, medical clinics, pet shops and vets, supermarkets and corner stores and specialty shops for gifts and clothing. Thre is no end to the opportunities that are available in Scotland.
Get in touch and let us show you the benefits of the country that, according to a UK Attractiveness Survey, rates as Europe’s top destination for inward investment.