Business News Round Up (25/10/2024)
Edinburgh and Glasgow jump up in Global Green Finance Index
Scotland’s two largest cities have improved their position in the latest Z/Yen Global Green Finance Index, underlining the sector’s global reputation and development in green finance. The Scottish capital has moved up five places to 19th position in total, while Glasgow jumped eight places to 36th place. Meanwhile, London retained its position as the world’s foremost green finance centre. The index highlights Scotland’s reputation for green finance thought leadership in particular, with Edinburgh in 11th place globally for “knowledge.” It also underscores Edinburgh’s enhanced reputation among experts, with the capital coming in at 15th position when results are adjusted to green finance professionals specifically. The index’s results follow the Global Ethical Finance Initiative’s recent Ethical Finance Summit in Edinburgh, which saw the launch of the Scottish Taskforce on Green Finance’s new report and recommendations.
https://www.digit.fyi/edinburgh-and-glasgow-jump-up-in-global-green-finance-index
UK unveils data bill for £10bn economic growth
A new Bill has been introduced to UK Parliament, aimed at utilising data to enhance public services and generate £10 billion for the UK economy. The Data Use and Access Bill seeks to facilitate the secure and effective use of data for the public interest while alleviating financial pressures on the nation. The Government said the legislation is pivotal for advancing three of the Prime Minister’s five Missions to rebuild Britain: stimulating economic growth, enhancing public safety, and modernising the NHS. Key provisions of the Bill include removing bureaucratic hurdles for police officers, allowing them to dedicate more time to crime prevention. This initiative is projected to free up 1.5 million hours of police time annually. The Bill also aims to ensure seamless transfer of patient data across NHS services, which is expected to improve decision-making and free up 140,000 hours of NHS staff time each year.
Scottish Government struggles to win over business community
Just 9% of Scottish firms agree that the Scottish Government understands the business environment in Scotland, compared to 64% of businesses that disagree for the second year in a row. This is according to the latest Scottish Business Monitor, a survey of over 350 firms conducted in August and September, produced by the Fraser of Allander Institute at the University of Strathclyde. The Institute asked firms about their relationship with the Scottish Government as part of an annual assessment following the ‘New Deal for Business’ launch in April 2023, comparing the findings to last year’s report. The report finds that just 6% of businesses agreed that the Scottish Government engages effectively with their sector, down from 8% in 2023, meanwhile, 68% of firms disagreed. A slightly better 19% of firms believe they can influence Government policy if new announcements affect their business.
Young Enterprise Scotland faces closure – with loss of 31 jobs
Young Enterprise Scotland is at risk of closing after the Scottish Government scrapped established grants and failed to follow through on funding assurances. The national charity, that has delivered enterprise education to schools and colleges for more than 30 years, has lost its full Scottish Government grant, which accounts for the majority of overall income. If no emergency funding can be sourced, the organisation will be forced to close. Students will no longer be able to complete the SCQF Level 6 qualification ‘higher’ in entrepreneurship – and up to 31 jobs will be lost. Last year, YE Scotland supported over 18,000 school and college students through its enterprise programmes, including the flagship Company Programme, which many entrepreneurs credit with setting them on a business career. In the past three years, more than 1,000 students have gained a YE Scotland enterprise qualification.
https://www.insider.co.uk/news/young-enterprise-scotland-faces-closure-33959203