Why Kate Forbes says entrepreneurs like Alba Partners' Jacobs siblings are 'lifeblood' of Scottish economy

Scotland’s deputy first minister has heralded Scotland’s entrepreneurs as “the lifeblood of our economy”, and a boost to the country’s start-up sector.

Kate Forbes, who also handles her government’s economy brief, was speaking as boutique management consultancy firm Alba Partners opened a new global headquarters in the heart of Edinburgh.

The firm employs more than 40 staff in offices in London, Abu Dhabi and Dubai, and have described this launch of their HQ on Lothian Road as a major milestone for the family-founded firm.

Alba Partners has launched a global HQ in Edinburgh | Chris Watt Photography

Forbes said: “Entrepreneurs are the lifeblood of our economy, and the Scottish Government is committed to helping create one of Europe’s leading start-up economies.

“It is a real vote of confidence in the Scottish economy that companies such as Alba Partners are choosing to headquarter here. We will continue to work with businesses to help them grow and thrive.”

Alba Partners, which has clients in the energy, financial services and public sectors, was founded in 2021 by Edinburgh siblings Richard and Carol Jacobs. The firm is chaired by financial services stalwart and former Scottish Financial Enterprise (SFE) chief executive, Graeme Jones. Alba Partners is an SFE member.

CEO Richard Jacobs said: “It was a huge privilege to welcome the Deputy First Minister to Alba Partners new office Edinburgh to mark the official opening of our new global headquarters.

Kate Forbes and Richard Jacobs, Alba Partners CEO | Chris Watt Photography

“Alba Partners has gone from strength to strength since our founding in 2021, and we are delighted to be growing the business here in Scotland in flagship industries such as energy and financial services, as well as the public sector.

“As a start-up business that is continuing to grow, we understand the challenges entrepreneurs face when they want to expand, hire more staff, and enter new markets.

“Government can play a key role in helping firms to overcome those challenges and it was great for us and other firms to hear from Kate Forbes on the Scottish Government’s plans in this area.”

Last week Forbes voiced her relief that her government’s draft Scottish budget contained tax breaks for hospitality firms after two years of inaction.

The economy minister also insisted a “fixation” on income tax alone was not sufficient to close Scotland’s economic performance gap with the rest of the UK.

Ms Forbes said: "In terms of hospitality, there's no doubt about the hugely challenging period that you've been through. And although this doesn't go as far as you would like, I can't tell you how relieved I am that after two years where there has been no retail, hospitality and leisure relief, that this year there is - I accept more limited than you would like."