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Bill's Blog

More info needed before indy vote, says SCC

Scots firms don’t yet feel they have enough information to make up their minds on Scottish independence, a Scottish Chambers of Commerce members’ survey out today finds. The survey, conducted in conjunction with eminent Scottish economist Professor David Bell and co-funded by the Economic and Social Research Council, says most Scottish businesses are unclear about the business implications of next year’s independence referendum. The results echo evident frustration across the business community on the implications of a ‘yes’ vote ahead of the publication of the Scottish government’s White paper due in the autumn...

Best of Young Enterprise Scotland – Round Two

Tomorrow is Red Letter Day for 217 young Scots entrepreneurs who are pitching for a slice of a £2 million fund to support and encourage entrepreneurial activity in Scotland. Last week I had the pleasure of meeting 10 of the 17 first round award winners at a special Edge dinner organised by RBS in Edinburgh’s St Andrew Square and attended by senior political figures and bank executives. Listening to their stories round the table, it was one of the most inspiring meetings I have attended in years...

Make no mistake – recovery is building

Scot-Buzz editor Bill Jamieson is optimistic… First the firmer tone of business surveys; then official figures; now growth forecast upgrades: economic recovery is continuing to build – and may soon be edging back up to trend growth – for the first time since 2008. The biggest validation came yesterday when the Paris-based Organisation for Economic Co-operation and Development (OECD) revealed that its leading indicator for the UK climbed to 100.8 in April from 100.7 in February and March. It’s modest and it’s glacial – but it confirms a definite upward trend. Back in May last year this closely watched indicator stood at 99.4...

Gurgle, gurgle, where’s all the money gone?

For a country routinely described as “cash-strapped”, it’s hard to believe some of the figures now coming out about our financial state. Far from being hard-up, Britain’s big companies are sitting on vast amounts of money. Yet the volume of new cash being pumped in to boost an investment recovery is rising with every month. So where is all the money going? UK firms are not cash strapped. They are sitting on a cash pile estimated at more than £700 billion, equivalent to around 45 per cent of GDP...

Salmond, the Bully. What Business Really Fears

Is Scottish business being bullied into silence in the debate over independence? Or is there something else that business really fears?

As if the indyref debate was not hot enough, former chancellor Alistair Darling, the leader of the Better Together pro-union campaign, turned up the temperature at the weekend when he spoke to the Financial Times of “shadowy nationalist forces” bearing down on business leaders. 

He told of “very disturbing” claims that people working for Alex Salmond’s government are telling business leaders to “shut up” ahead of next year’s referendum.

RECOVERY – IS THIS AS GOOD AS IT GETS?

Good news keeps coming for Scotland’s economy and there's a growing view that we’ve turned a corner. But a corner to what? To icebergs straight ahead? A new book by HSBC Chief Economist Stephen King, ‘When the Money Runs Out’, should be on everyone’s reading list this summer. King, who spoke at an Asia Scotland Institute event in Glasgow last week, raises profound questions on our increasing reliance on money printing and ultra-low interest rates to keep the economic show on the road. And he warns that the worst of austerity – or more accurately real austerity - has still to hit home...

FORGING AHEAD: A MICRO BUSINESS REVOLUTION

An economic transformation is infolding before our eyes. Politicians are fixated on flawed measures of economic performance. But outside of these a micro business revolution is taking shape. It is re-shaping our economic universe and helping to turn the business cycle. The economy that emerges from the aftermath of the global banking crisis will be one quite different in composition and dynamic from the economy that entered the downturn six years ago…

What ails Scottish housebuilding?

Scotland has every reason to be a house-building leader – and the industry a leader in economic upturn and recovery. But instead the industry is mired in problems, from cash constraints through planning hold-ups to ever rising regulation. The result? Instead of a building resurgence we have glacial growth. Instead of more “affordable homes” we are legislating for ever more expensive ones. Instead of greater creativity, innovation and imagination in design, there is a retreat into the same and the lookalike.

TUMBLING BUSINESS FAILURE RATES: FLUKE OR TREND?

How’s this for a truly remarkable statistic: the number of Scottish firms failing in the first quarter of 2013 tumbled by almost 63 per cent compared with the same quarter of last year. The latest Accountant in Bankruptcy (AiB) figures show that 143 Scottish companies went bust in the first thirteen weeks of this year compared to 385 in the first quarter of 2012. The figures are the exact opposite of widespread expectation and pose a major puzzle for Scotland’s business sector...

MAGNIFYING GLASSES AND HUBBLE TELESCOPES AT THE READY…

Tomorrow Chancellor George Osborne, Honorary Life President of the Fingernails Club, gets first sight of critical GDP figures for the first quarter before they go out on general release on Thursday. For thousands of small firms it won’t matter a jot whether the figure is fractionally on the plus or minus side of growth...

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