Business News Round Up (24/03/2025)
Employment confidence grows in Scotland as AI thrives and tax burdens remain
New figures published today (24 March) by the Institute of Directors (IoD) Scotland reveal that employment remains the top concern for Scottish business leaders, but confidence in skill levels is improving. The annual IoD State of the Nation Directors survey asks cross-sector leaders for their views on a range of issues and opportunities across the business landscape. 71% of respondents felt they have the right number of skilled employees for current jobs and future staffing requirements – an increase of 10% from 2024 and 17% from 2023. Despite this improvement, engagement with skills development initiatives is still low. Over half (56%) of businesses reported not employing apprentices or supporting workplace training schemes. Similarly, business engagement with universities and colleges has fallen, with 46% of businesses not engaging with any type of further education establishment, compared to 35% last year.
Northern retail sector posts lowest closures since 2018
Store closures across Northern England have steadied to their lowest rate since 2018, as PwC UK has revealed the latest statistics for chain retail stores, leisure venues and service outlets opening and closing across Great Britain for 2024. Across the North West, North East and Yorkshire and the Humber, there was a total of 823 net closures in 2024, close to 2022’s total of 865, and the lowest reading since 355 in 2018. The North West had 956 openings compared with 1,311 closures (-1.5% net change %), the North East had 359 openings compared with 502 closures (-1.7 net change %) and Yorkshire and the Humber posted 857 openings against 1,182 closures (-1.8% net change %). Across Yorkshire and the Humber, the North West and North East, high streets were the category with the worst net change percentage, averaging -2.9%.
Pandemic-driven flexible working is ‘here to stay’
The rise in flexible working prompted by the pandemic is here to stay in Scotland, according to new research. Social consultancy and training firm Flexibility Works has been tracking levels in Scotland since the pandemic and its latest data shows flexible working has stabilised, with 67% of Scottish workers saying they use some form of flexible working – the same number as last year – and up from 46% pre-pandemic. The research also showed that hybrid and home working remains popular, with 77% of office or desk-based workers able to work hybrid and remotely. The report is based on data from more than 1,000 Scottish workers, 250 employers and 200 unemployed adults looking for work. The findings show 72% Scottish employers think flexible working is good for their business, while 95% think flexible working in their own organisation will stay the same, or increase, over the next 12-months.
https://www.insider.co.uk/news/pandemic-driven-flexible-working-here-34905390
Scottish Universities among UK’s best for spinouts
Three Scottish universities have ranked among the top 20 in a new study measuring the success of spinout companies from UK academic institutions. The Universities of Edinburgh (8th), Strathclyde (16th) and Glasgow (19th) all scored among the UK’s top institutions by total number of spinouts, according to the Royal Academy of Engineering’s fifth annual Spotlight on Spinouts research. Among the wider list of forty-two were also the University of Aberdeen (26th), Heriot-Watt (27th), Dundee University (28th), and the University of St Andrews (36th). The study found that 53% of UK spinouts come from just ten institutions, with Oxford University coming out top and Cambridge University experiencing the largest growth of 17% year-on-year. Among those in Scotland, the University of Edinburgh’s spinout track record was found to be particularly strong, having fostered seventy-one new firms, compared to Strathclyde’s forty-four and Glasgow University’s forty.
https://www.digit.fyi/scottish-universities-among-uks-best-for-spinouts