Business News Round Up (01/09/2025)
Azets: SMEs will judge red tape cuts on delivery
A leading business adviser has cautioned that the government’s latest pledge to slash red tape for small and medium-sized enterprises (SMEs) must translate into tangible, everyday change if it is to be deemed a success. The UK government has pledged to cut administrative regulatory costs for SMEs by 25%, simplify licensing, and modernise corporate reporting requirements. But Azets says SMEs have heard similar promises before – and are still waiting to feel the benefits. From duplicative forms to delays in licensing decisions, regulation continues to eat into SME productivity. Azets says reforms must be felt on the ground, not just in policy documents, if the UK is to be the best place to start and grow a business.
https://www.scottishfinancialnews.com/articles/azets-smes-will-judge-red-tape-cuts-on-delivery
Factory recovery ‘painfully slow’ says trade group
Scotland’s engineering companies are witnessing a “painfully slow recovery”, according to the sector’s trade body. While exports in Q3 remained negative for the fifth consecutive quarter (net -14%), order intake and output volumes show signs of stabilising. Staffing levels have begun to shift in a positive direction for the first time this year (+1%) in a further sign of improvement. Scottish Engineering said a big driver for the positive shift has come from larger firms, whose UK orders rose. However, the picture for smaller organisations remains a cause for some concern as they continue to report negative figures. Paul Sheerin, chief executive of the trade group, said: “The impact of the employment taxation route our UK Government chose to take results in this painfully slow recovery. Whilst there are signs of improvement, further impacts concern us that we could stall the slow progress that has been made.”
North West business confidence dips in August
Business confidence in the North West fell five points during August to 47%, according to the latest Business Barometer from Lloyds. Companies in the North West reported higher confidence in their own business prospects month-on-month, up one point at 53%. However, when taken alongside their optimism in the economy, down 12 points at 40%, this gives a headline confidence reading of 47% (vs. 52% in July). Looking ahead to the next six months, North West businesses identified their top target areas for growth as evolving their offering, for example through new products or services (41%), introducing new technology, such as AI or automation (39%) and investing in their team, for example through training (36%). Nationally Overall, UK business confidence rose two points in August to 54%. While firms’ confidence in the wider economy dropped three points to 44%, their optimism in their own trading prospects rose five points to 63%.
Scottish Government announces £3.6m contribution to Scotland’s biggest business funding competition
The Scottish Government has announced it will make a £3.6 million contribution over three years to Scotland’s biggest business funding competition. The Scottish EDGE Awards will receive the funds that will be matched ‘pound-for-pound’ by the private sector to help entrepreneurs and founders grow their businesses. The multi-year pledge goes beyond a Programme for Government 2025-26 commitment to provide £1.2 million this year by committing to deliver the funding level for the next three years. Since being established in 2012 the Scottish EDGE awards have awarded more than £29 million to more than 700 businesses – with the platform helping many to establish national and international business operations.