Business News Round Up (10/06/2025)
Tech Nation: Scotland among UK’s fastest rising tech regions
In its 10th anniversary edition, The Tech Nation Report charts a decade of unprecedented expansion – and outlines the urgent challenges that lie ahead. Framed around the sector’s single biggest hurdle – growth – the report paints a picture of a maturing but uneven ecosystem that now demands bold moves to stay ahead. As of 2025, the UK tech sector is valued at $1.2 trillion, officially cementing its place as Europe’s number one tech ecosystem. Growing at a CAGR of 12.5%, UK tech is outpacing its European rivals. London remains the sector’s undisputed capital, accounting for 59% of total market value, though the East Midlands (21% CAGR), Scotland (19%), and the North East (15%) are now emerging as high-growth regional hubs. In 2024, more UK tech companies exited than in any year before. However, the era of high-profile IPOs appears to be waning, with tech public listings now “almost negligible”.
https://www.digit.fyi/uk-tech-growth-tech-nation
Firms put hiring on hold as tax and wage rises bite
Recruitment plans are being put on hold as companies tighten their belts following recent tax and wage rises. Vacancies across the UK fell by 63,000 between March and May while the unemployment rate ticked up to 4.6% from 4.5%, the highest since July 2021. Average wage growth, excluding bonuses was 5.2% in the three months to April, down from 5.5%. The data from the Office for National Statistics follows the rise in National Insurance Contributions paid by employers increased while a rise in the minimum wage came into force. “There continues to be a weakening in the labour market,” said Liz McKeown, director of economic statistics at the ONS, adding that there had been a noticeable drop in the number of people on payrolls. The unemployment rate in Scotland was estimated at 4.2%, up 0.4% over the quarter.
https://dailybusinessgroup.co.uk/2025/06/firms-put-hiring-on-hold-as-tax-and-wage-rises-bite
Engineering construction workforce in Scotland to grow by a quarter by 2030
New research published today reveals that the engineering construction industry (ECI) workforce in Scotland could increase by 24% in the next five years. The ECI plays a crucial role in the UK meeting its net zero ambitions, spanning sectors that focus on the construction, maintenance and decommissioning of heavy industry, including oil and gas, nuclear, power generation, renewables, chemicals, carbon capture and storage, hydrogen and water treatment. The Engineering Construction Industry Training Board’s (ECITB) Labour Forecasting Tool (LFT) provides insights into workforce numbers across regions and sectors, predicting trends and potential future demand for workers in the industry. The tool, which was first launched in November 2023, has been updated using findings from the ECITB 2024 Workforce Census and publicly stated timescales on 3,000 active and future ECI projects across Great Britain.
Central belt among UK ‘super regions’ with potential for transition projects
Geologists have unveiled “super regions” throughout the UK with the best geological potential to host energy transition technologies, including geothermal energy and carbon capture and storage (CCS). The findings, published by the British Geological Survey (BGS), show the UK has an incredibly diverse subsurface, which can play a key role in supporting efforts to reach the country’s legally binding climate goals. Many areas have geology that is well suited to certain net zero technologies, including shallow geothermal installations or critical minerals occurrences. But BGS scientists said that eight super regions contain subsurface formations and conditions that are favourable to multiple different technologies within a relatively small area. These are the Scottish central belt, Northern Ireland, north east England, north west England, the South Yorkshire and Humber region, the East Midlands and East Anglia, South Wales and south west England.
https://www.insider.co.uk/news/central-belt-among-uk-super-35364963