The Interest Rate Weekend edition 3 - November 30
The Scottish Government faces tough choices ahead of the budget as business leaders warn of the consequences, a Scottish biotech firm receives funding and an update on the Avenues project
Good morning. Today’s round up will have your usual round-up of all the important news and analysis for this week. If the newsletter is too long to read in your inbox and gets cut off as an email, you can read it online here.
🤝The Scottish Chambers of Commerce has warned the Scottish Government against treating businesses as a “cash cow” ahead of its next budget.
Chief Executive Liz Cameron urged First Minister John Swinney to take immediate action to help businesses address the increasing economic challenges.
⮑ She said: “We stand at a pivotal moment for our economy. The economic headwinds and political turmoil are immensely challenging. and some sectors are at breaking point.
“The message tonight is clear: collaboration and understanding between business and government are not just desirable—they are essential,” reports Scottish Financial News.
👨💼 Dundonian business guru Mike Soutar criticised Swinney at the Scottish Chamber of Commerce meeting, warning that additional income tax could hamper companies' ability to "attract top talent.”
⮑ He said: “Companies in this room all face increasing employers [National Insurance] as a new Westminster government tries to stabilise the economy.
“North of the border, there is little business rate relief and the additional recognition tax imposed by the Holyrood administration, which can make attracting top talent more difficult still,” reports The Herald.
A leading trade union has called on Chancellor Rachel Reeves that Scotland’s public services will suffer if it does not und the shortfall created by the National Insurance hike - The Herald
🐄 Scottish biotech company has developed a technology, that will improve the process for treating disease among cows.
It has completed a £2.3 million investment round led by Eos Advisory, British Business Investments, and existing investors Kelvin Capital and Scottish Enterprise.
Bovine Mastitis is estimated to cost the dairy farming industry around £20 billion every year, costing the average farm in the UK £25,000 per year - reports Daily Business.
🏧 Marc Armengol, chief operating officer of TSB’s Spanish parent company Sabadell is set to become the bank’s new chief executive next year
He will succeed Robin Bulloch who is credited with strengthening the Edinburgh-headquartered bank, improving the customer experience and achieving record results. Mr Bulloch is retiring after three years in the role and 45 in retail banking - Daily Business.
🔋 The Scottish Government has released its first plan to make Scotland a global player in the energy sector by 2030.
SNP Minister Gillian Martin set out the strategy that includes investing in the production, transport and storage of hydrogen in the A Trading Nation: Realising Scotland’s Hydrogen Potential – A Plan for Exports report - Daily Business
🚍 The Glasgow Splash has provided an updated on the council’s £136million plan to de-pedestrianise Argyle Street East from Queen Street to Trongate.
The Avenues Project is aimed at improving connectivity and revitalising the city centre.
It will allow buses and cars to travel the full length of Argyle Street as part of its current plans.
Buses will soon be able to travel the full length of Argyle Street in the city centre as Glasgow City Council advances plans to revamp the area.
The de-pedestrianisation of Argyle Street East—from Queen Street to Trongate—is aimed at improving connectivity and revitalising the city centre.
The Avenues Project team, led by Principal Officer Kieran Buchanan, presented these proposals during a meeting with the Merchant City and Trongate Community Council on Tuesday evening.
Events and networking opportunities
We have compiled a list of the upcoming events that are not to be missed.
Social justice entrepreneurs and anti-racism and equalities campaigners, The Three Hijabis has announced its first-ever mentoring programme.
The Shifa Circle, for Muslim women working in social justice spaces, is supported by the Esmée Fairbairn Foundation.
It is an online programme that will bring women together over six months next year.
It will bring together eight Muslim women to provide them with support, confidence and to help enhance their leadership skills.
Application deadline is midnight on 20th December using the online form: https://lnkd.in/eNtaieRs
Techscaler Scotland has announced applications are now open for its upcoming Start-up Next Steps Winter ‘25 Cohort is designed for founders looking to scale a product that's already live in the market.
⏲️ Over 10 weekly sessions (Jan 22nd - Apr 9th, 2025), entrepreneurs will learn from industry experts, collaborate with peers, and build strategies to grow their product.
With hybrid delivery (in-person and online), this practical course is accessible no matter where you are and allows you to be flexible in how you engage with the content.
- No cost or equity stake
- Insights from seasoned founders
- Focused on real-world growth challenges
- Networking opportunities
📅 Applications open now until December 18th
This course is open to current and prospective Techscaler members. If you're not already a member, you can apply for Techscaler membership and unlock exclusive access to this game-changing course.
For more information visit Techscaler’s website here
The third volume of the popular event about embracing failure is back.
Fuck-up Nights Glasgow on December 5 at the itison Hub.
🎤Oli Norman - CEO and Founder of itison
🎤Elizabeth Pirrie - CEO at AccelerateHER
🎤Marc Reid - Scientist and Author of "You Are (Not) a Fraud"
🎤One more guest still to be announced
Leaders will share raw, personal experiences of failure, exploring the 'beauty of mistakes' as stepping stones on their journeys to success.
Tickets for this popular and often humorous event are £15.
Start-up Grind Aberdeen is hosting its annual Christmas party/networking event.
🚀 The theme is Scaling smart: strategies for start-up growth + Christmas party ecosystem mixer.
⏲️ ONE Tech Hub, Schoolhill, Aberdeen City, AB10 1JQ on December 12 from 5pm to 7pm.
The event will consist of up to three presentations, each offering tips and advice on scaling smartly, followed by partying and networking with other founders.
Tickets for this event start at £2.49 for students and early birds with the standard price at £4.49. All come with a fee to help cover costs.