Scottish Business Briefing - Monday 4 March, 2013
ECONOMICS
Scottish business failure rate halves
The number of companies going bust across Scotland fell by half in January, according to figures published today by credit reference agency Experian. The firm said there was a total of 41 Scottish business insolvencies during the month, down from 82 in January 2012 – the sharpest decline in failure rates across the UK as a whole (Scotsman)
ENERGY & UTILITIES
Amec scoops massive oil deal
Engineering and project-management company Amec has won a contract with BP as part of a £4.5billion project west of Shetland. Up to 800 technical experts at Amec and qedi subsidiary will work on the Clair Ridge development after the firm signed a £68million deal with operator BP (P&J).
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Hide AdScottish oil and gas to create 34,000 jobs over two years, claims report
More than 34,000 jobs will be created in the oil and gas sector in Scotland over the next two years, according to a major report looking at the future on the industry. The study found that Scottish oil and gas firms are more likely to expect growth than those south of the Border – with 83 per cent expecting to see more business (Scotsman).
MANAGEMENT
Hunter on lookout for purchases
A young Scottish human resources consultancy is eyeing more acquisitions after achieving dramatic growth amid challenging economic conditions. Hunter Adams has drawn up a list of potential takeover targets as the company looks to double turnover in its second full year in business. The company also wants to hire more HR experts under a plan to increase employee numbers by around 40%
(Herald)
MEDIA & LEISURE
Scottish tourism ‘not just whisky and Nessie’
Scottish tourism is being held back by complacency about knowledge of the country overseas, the head of VisitScotland has admitted. Mike Cantlay said the industry was dogged by a belief that the “world knows about Scotland and wants to come” when the reality was very different. He said there was poor appreciation of tourism’s importance to Scotland’s economy – but insisted it represented the country’s best prospect for financial recovery in the short-term (Scotsman).
TRANSPORT
Gilda calls for VAT cut as Peoples defies gloom
A CUT in the rate of VAT would re-energise British industry and provide consumers with a much-needed “feel-good factor”, a senior Scottish businessman said today. Brian Gilda, founder and chairman of the Peoples Ford dealership chain, called on the UK government to consider the move as he revealed that his company had managed to defy the economic gloom by booking a rise in both profits and turnover (Scotsman).