Business News Round Up (13/11/2025)
Global promotion efforts pay off in record investment, says Scottish Government
A new report on Scotland’s International Strategy highlights that Scottish Government efforts to promote the nation abroad have been integral to securing record export sales, inward investment, and tourism growth. The annual report, launched by External Affairs Secretary Angus Robertson, details significant economic and social benefits. Key economic achievements include securing 135 inward investment projects, which maintains Scotland’s position as the top UK destination for Foreign Direct Investment outside London. Furthermore, international trade missions and ministerial visits supported £2.15 billion in export sales and £1.89bn in capital investment. The strategy also focuses on promoting Scotland’s renewable potential, particularly in offshore wind and hydrogen, to support the green energy transition. Socially, the report outlines £1 million in humanitarian assistance across 10 countries and continued investment in health and education programmes in Malawi, Zambia, Rwanda, and Pakistan.
Insolvencies jump as rising cost pressures take toll
Company insolvencies have risen sharply in a further indication of the cost pressures they are facing. Insolvency-related activity in October rose by 17% on September and by 9% on October last year, according to restructuring firm R3. Based on data provided by CreditSafe revealed there were 124 insolvencies last year, up from 106 in September. The monthly increase in insolvency-related activity, which includes administrator and liquidator appointments together with creditors’ meetings, is a trend mirrored across the UK, with a decrease only in Wales. Emma Widdowson, chair of R3 in Scotland and legal director at Addleshaw Goddard, commented: “The rise in insolvency-related activity in Scotland last month is a clear sign of the ongoing pressures businesses are facing. This trend isn’t isolated to Scotland as we’re seeing similar patterns across most of the UK.”
Lower wages reducing impact of Scottish taxation, Audit Scotland finds
Lower earnings and employment growth in Scotland compared with the rest of the UK is reducing the impact of devolved taxes on the country’s budget, a watchdog has found. In a new report, Audit Scotland said Holyrood’s budget has been boosted by more than £4bn since the introduction of devolved taxes in 2015-16. However, that figure is “significantly less” than the additional tax raised over the same period. Audit Scotland said that trend is likely to continue and called on the Scottish Government to be “more transparent” about the overall impact of its tax decisions on the budget. But the Scottish Government said its approach to taxation allows the delivery of policies which are “not available anywhere else in the UK”, such as free tuition for students.
Greater Manchester’s business events sector clears £1bn milestone
Greater Manchester’s meeting, conference, and events sector is now worth £1bn to the local economy, according to new research. Core business events, such as conferences, contributed £917 million to the region’s economy and supported 31,600 full-time equivalent jobs. When factoring in the growing trend of leisure extensions – delegates who extend their business trip by extra days – the total value of business events clears the £1 billion milestone and provides an additional 2,600 jobs. The research, commissioned by Greater Manchester’s promotional agency Marketing Manchester, also found that an additional £87.5 million was generated by ‘leisure extenders’, contributing a further 545,000 bed nights, and boosting the visitor economy through spend on accommodation, food and drink, and cultural experiences. Compared to research from 2017, the business events sector has seen significant growth from international business and has attracted high-value events that are more likely to generate extended stays and repeat visits.
https://www.prolificnorth.co.uk/news/greater-manchesters-business-events-sector-clears-1bn-milestone