Business News Round Up (13/03/2026)
Seven out of ten potential Scottish business ventures go unpursued due to lack of confidence
70% of small business leaders in Scotland have not pursued a potential business venture because of a lack of confidence, new research by YouGov on behalf of the British Business Bank has revealed. This crisis of confidence is costing the UK over half a million potential business ventures that are not pursued. Nationally, a lack of confidence remains a major barrier to entrepreneurship. 41% small business leaders say a lack of self-belief was one of the biggest obstacles to starting or growing their business. 36% said fear of failure holds them back more than a lack of funding. Young entrepreneurs are feeling the strain most acutely. 41% of 18–34-year-olds feel they are not the ‘right kind of person’ to run a business, compared to an average of 30% across all age groups. 23% of 18–34-year-olds strongly agree with that statement, compared to just 2% of those aged 55+.
UK economy flatlines as people cut back on eating out
The UK economy unexpectedly failed to grow in January, with eating out in restaurants suffering in particular. The zero growth for the month was weaker than had been predicted and followed growth of 0.1% in December. The overall picture is “subdued”, said the Office for National Statistics (ONS), while analysts called it a “disappointing start to the year”. The figures underscore that the economy was fragile even before the outbreak of the US-Israeli war with Iran, which has caused a major energy shock that could have a ripple effect globally. The longer the war lasts, the more likely it is that there will be an effect on the UK economy, Prime Minister Sir Keir Starmer warned this week. While households under Ofgem’s energy price cap will be protected from rising energy prices until July, increased fuel costs are already being felt at the petrol pump and by heating oil users.
https://www.bbc.co.uk/news/articles/c75e06e0kd7o
Advanced Manufacturing Innovation District Scotland set for £9.7m development
Scottish Enterprise has approved a £4.74 million package to deliver a new £9.7 million development at the Advanced Manufacturing Innovation District Scotland (AMIDS) in Renfrewshire. The funding will be matched by the AMIDS joint venture partners Renfrewshire Council and Buccleuch Property, with it aimed to facilitate and accelerate growth of advanced manufacturing in Scotland. The development, known as Tech Terrace, aims to establish a world-class, high-value manufacturing cluster within a campus environment – where innovative organisations can work together to pioneer breakthroughs and meet challenges of the future and drive economic growth. The first phase will deliver units ranging from 2,000 sq. ft up to 16,000 sq. ft over a total area of 30,000 sq. ft, providing much needed space for organisations to scale in a supportive, collaborative, and entrepreneurial environment.
City Region Deal continues to boost jobs, investment and growth
The Edinburgh and South East Scotland City Region Deal is continuing to deliver strong results for communities across the region. Now valued at over £1.6 billion, the city deal remains the largest additional investment secured by any Scottish city region or growth deal. It is helping to grow the local economy, improve key infrastructure and support the development of sustainable communities. So far, the programme has created more than 22,000 job opportunities, delivered over 5,500 new homes, and contributed over £2.8 billion in Gross Value Added (GVA) to the regional economy. As part of the Deal’s innovation strand, Fife is benefitting from a ten‑year £59 million Industrial Innovation Investment programme, known as the Fife i3 Programme. This programme is helping to expand the supply of modern business space and serviced employment land across Mid and South Fife.
https://www.fife.gov.uk/news/2026/city-region-deal-continues-to-boost-jobs,-investment-and-growth