A Kinross-based business specialising in product handling solutions for global clients has optimised its operations after receiving support from Business Gateway.
Exporta Global launched in 2001 and provides transport, storage and racking solutions for a variety of industries including food, beauty, pharmaceuticals, and electronics.
The business works with customers to help them reconsider how they ship goods and implement Exporta Global systems to create sustainable solutions that build efficiencies and reduce costs.
Exporta Global have a longstanding relationship with Business Gateway, first engaging with the service in 2019. As supply chains continued to be under intense pressure throughout 2022, post COVID, Exporta Global got back in touch with Business Gateway for help in developing a strategic response to the growing demands within the industry such as increased shipping costs and availability of containers on ships.
The business received 1:1 support from Business Gateway adviser Andrew Webster, who guided them through a strategic review and helped identify and explore opportunities such as new ‘plastic wood’ manufacturing operations, to help improve its response to the industry demands on supply chains.
Business Gateway also provided expert advice on marketing, further assisting the growth of the business through the implementation of HubSpot which has been integrated with the website, allowing the sales team greater visibility of the pipeline. This will also lead to full website integration with the Exporta Global’s ERP system, allowing orders to run seamlessly from the website with no manual interaction.
Following the strategic review, Exporta Global were introduced to a wider network of organisations such as Scottish Enterprise who advised on innovation and product development support. As a result, Exporta Global developed their digital tools and added new technologies to their distribution centre, to further test and demonstrate how their products work for customers in real-life scenarios. Additionally, they developed their intellectual property and optimised their operations by installing new machinery, including an in-house product branding machine and a pallet load test rig. This expanded offering will help their customers promote their own brand, reduce losses and guarantee the compatibility of supply systems.
Shona Laing, Head of Business Services & Executive Assistant at Exporta Global, said: “We have worked with Business Gateway for a number of years, and it has always been a source of encouragement. One of the biggest benefits of working with the service is the knowledge and access to specialists we would otherwise struggle to identify. This proved evident when we implemented a new Enterprise Resource Planning (ERP) system in 2017. Business Gateway guided us through the whole process, from determining the parameters of the system to development and implementation.
“Most recently the strategic review has allowed us to confidently optimise our operations and turn our focus to growing our business. We have also, through our skills audit, been able to prioritise our employees and their development and are now working with Auditel to take our first steps towards being carbon neutral. We would highly recommend Business Gateway to anyone operating in Scotland, it is a fantastic resource to have on our doorstep.”
Andrew Webster, Business Gateway adviser, said: “It has been fantastic to have worked with Exporta Global over the years, and more so this year which has seen world logistics remain challenging, even after the effects of the pandemic and Brexit.
“We were able to support them through a range of our growth business services and connect them with the best experts in the field to find a tailored approach to improve their business. We would encourage anyone who is looking to develop their business to access our support and connect with our experts.”
For more information on how Business Gateway can help your business, visit https://www.bgateway.com/.
Firm announces the appointment of five new partners, across teams including Real Estate, Planning, Dispute Resolution, Projects and Corporate
This year’s round of partner promotions emphasise Burges Salmon’s ambitious strategy for growth across a number of key areas including Real Estate, Planning & Compulsory Purchase, Dispute Resolution, Renewable Energy & Net Zero, and Corporate Finance & Technology.
Reinforcing Burges Salmon’s continued drive to deliver an exceptional service to its clients, the firm’s 2023 partner promotions include:
Claire MacLean – Real Estate
Claire was one of the original team members who joined Burges Salmon when the firm launched in Edinburgh in 2019. Claire has over 16 years’ experience delivering real estate legal services. She has a particular emphasis on projects within the energy sector acting for developers, investors and funders and in the built environment sector specialising in cross border portfolio transactions, hotels, industrial & logistics and offices. Through the work that Claire does for clients in these key sectors, she works closely with the firm’s Planning, Construction, Projects and Banking teams.
Alex Minhinick – Planning and Compulsory Purchase
Alex trained and qualified with Burges Salmon in 2010. Acting on a wide range of projects for developers, landowners and local authority clients, Alex has particular experience in compulsory purchase compensation claims, energy, power and utilities projects, infrastructure projects, and developments relating to mines and minerals. Alex is a Legal Associate of the Royal Town Planning Institute, a member of the Compulsory Purchase Association, and a representative for Burges Salmon at the Mineral Products Association.
Charlotte Whitaker – Dispute Resolution
Charlotte acts on large scale health and safety investigations, inquests and public inquiries, with particular expertise in advising clients at the incident response phase to multi-fatality incidents and has extensive experience in acting for clients in sensitive and high profile criminal investigations, prosecutions and inquests. She is currently leading on two multi-fatality health and safety investigations and is a Lead Solicitor appointed to advise the UK Covid-19 Public Inquiry chaired by Baroness Hallett. Charlotte advises across a range of sectors with a particular specialism in transport and energy.
Alec Whiter – Projects
Alec trained and qualified with Burges Salmon in 2013. A member of the firm’s Energy Projects team, Alec has wide-ranging experience of advising developers, investors, Government, funders, licensed suppliers, major energy users and contractors on all aspects of projects, regulation, commercial agreements and project finance transactions in the net zero, energy and waste sectors.
Alex Lloyd – Corporate
Alex works across all areas of corporate finance, acting for national and international, private and public companies and institutional investors. Alex is focused on technology transactions, working on both high profile and international M&A whilst also being exposed to new businesses and technologies through his work on venture and growth capital deals. Alex is a member of the firm’s Technology Transactions and Private Equity practice groups and is co-lead on the firm’s BScale initiative aimed at high growth businesses, their investors and the wider start-up and scale-up ecosystem.
Burges Salmon’s Managing Partner, Roger Bull, says: “We are have an incredibly talented team of lawyers and business service professionals at Burges Salmon, and I am delighted to share the news that we have welcomed five of our exceptional colleagues – Claire, Alex, Charlotte, Alec and Alex – as new partners from 1 May 2023.
“Their promotions reflect our ongoing growth, and investment, in key sectors and practices including Real Estate, Planning, Dispute Resolution, Renewable Energy & Net Zero, and Corporate Finance & Technology.
“With strong technical and leadership skills, they will play an important role in ensuring we continue to provide exceptional client service and in supporting the ongoing success of the firm in the years to come.”
It has been a strong start to 2023 for Scotland’s largest marketing and communications agency, BIG Partnership, as it reveals a raft of new client wins and expands its team to meet demand.
BIG, which has over 300 clients across a wide-range of sectors, most recently secured a four-year contract to provide critical communications support to Transport Scotland. Other wins include Strathclyde Passenger Transport, full-service law firm Thorntons, leading retail and leisure destination, Silverburn, charity ENABLE Scotland, property developer Platform_, Optometry Scotland, subsea technology firm Rovco and energy research consultancy Wood Mackenzie.
With just under 100 staff across four UK offices, BIG has also seen exponential growth in its Manchester office, securing significant campaign work for big brand names including On The Beach, Booking.com and Asda George.
Further underlining its integrated marketing offer, BIG led on the inaugural Sir Jackie Stewart Classic event, providing PR, paid media and organic social media strategy. Multi-service campaigns have also been delivered for organisations such as Aldi Scotland, Aberdeen Science Centre, North Star Shipping and Loganair. The team delivered the airline’s 2022 Christmas ad, ranked second in The Drums’ ‘Travel ads resonated most with UK audiences’ in December.
Chief Executive Officer for BIG Partnership, Allan Barr, commented: “We have had some tremendous client and project wins over the past 12 months. Booking.com, Aldi Scotland, Loganair and The Macallan are just some of the household names we deliver results for daily, however part of our strength is that we work across a variety of sectors, from energy and renewables to professional services and consumer goods.
“In an economy that has not yet recovered back to pre-pandemic levels, clients are increasingly prioritising agencies who can demonstrate a strong return on investment from their marketing spend. Since it was founded 23 years ago, BIG has built an enviable reputation as an agency who delivers results for clients, and I believe this is the primary reason we’re seeing such success in the current market.
The agency is now looking to expand further, building on a period of growth for its creative studio and marketing services, as well as its public affairs team. Rochelle Giblin was appointed as its first Head of Marketing Services at the end of last year and Paul Roberson was named as Head of Public Affairs late 2021. Both teams are actively recruiting on the back of a string of new client wins.
Barr added: “There has been growth across every area of our business. Our Manchester team continues to flourish in a buoyant market and our studio, PR and public affairs teams also have enormous potential. The plan is to continue to recruit across all of our offices to ensure we maintain the high standard of service our clients have come to expect.”
Northumberland County Council has awarded Commsworld, the UK’s largest independent network provider, a £22m contract to transform the county’s digital infrastructure over the next 20 years.
The contract represents a step change by the council, to embrace a progressive, long-term approach to infrastructure and connectivity in line with its digital strategy. It involves replacing its ageing Wide Area Network (WAN) with world-class full-fibre infrastructure which will also provide businesses and communities across the county – including its most rural areas – with access to faster, high-quality, reliable connectivity.
It will see Commsworld deliver 262km of new fibre infrastructure, which will transform connectivity to nearly 150 council sites. It will also enable access to more than 120,000 residential and business properties across the county to Fibre To The Premises (FTTP), many of whom have never enjoyed access to gigabit-capable fibre networks before.
The fibre infrastructure will be linked to Commsworld’s Optical Core Network (OCN), a next generation network in which it invested £10m, built specifically to boost security and resilience of digital infrastructure to organisations the length and breadth of the UK.
The OCN will act as the ‘spine’ from which wholesale fibre broadband providers can branch out into towns and rural areas of Northumberland at reduced rates so communities can enjoy significantly improved digital connectivity of up to one gigabit per second for gigabit-capable fibre broadband.
It will also futureproof Northumberland’s digital backbone, by building and migrating services on to the new world-class dark fibre digital infrastructure. For instance, Commsworld will utilise the infrastructure established by the recent Local Full Fibre Network (LFFN) project funded by the Government through its Project Gigabit, which will result in a significant uplift in internet connectivity for 110 Northumberland schools.
These schools, and others where possible, will be migrated on to the new WAN, providing even more resilience and delivering a further boost to digital learning.
The contract will also see Commsworld work in partnership with the iNorthumberland team at the council, Community Action Northumberland and the National Innovation Centre for Rural Enterprise (NICRE) to tackle digital poverty, alongside digital skills and confidence within the communities of Northumberland.
Cllr Glen Sanderson, leader of Northumberland County Council, said: “This long-term approach marks a new and historic way forward for the council and its positive impact cannot be underestimated. We are one of the first rural counties in England to focus on changing the lives of our communities by not only providing the infrastructure to give them ground-breaking access to full-fibre broadband, but future-proofing the system so it can adapt and grow according to the needs of everyone who lives and works in Northumberland.
“Above all, it will directly tackle digital exclusion, especially for those in our rural areas. Equality of access is vital if we want to improve the lives of all our citizens. Providing access to significantly enhanced internet connections will go a very long way to bridging this digital divide and benefit all our schoolchildren, parents and families, as well as our businesses and organisations.”
Chris Thompson, Director of Information and Technology at Northumberland County Council, said: “I’m delighted that we’ve been able to secure this deal. It will provide an easily upgradable connectivity boost across our council sites and bring huge social value to the county, helping to make Northumberland one of the best-connected counties.”
Bruce Strang, Chief Operating Officer of Commsworld, said: “Commsworld welcomes securing this contract to replace Northumberland’s WAN network. This is our first major contract of this kind in England, having similarly delivered massively enhanced infrastructure to local authorities in Edinburgh, Glasgow, Renfrewshire, North Lanarkshire and the Scottish Borders.
“We are looking forward to bringing the full, transformative benefits of our Optical Core Network to Northumberland. Through the network, and working with our partners – including forward-thinking local fibre providers such as Alncom – we can provide a step change in connectivity and resiliency right across the county, bringing huge benefits to all those who live, learn and work there. I have no doubt that the digital infrastructure we provide will benefit the whole of Northumberland.”
Anderson Strathern, one of Scotland’s most innovative, independent law firms, has appointed four new directors to strengthen its senior team amid continued growth.
The appointments, which bolster the firm’s public sector, rural, private client and professional regulation teams, were assisted by its ‘super-agile’ working policy, which allows all staff – including those at director level – the flexibility to meet personal commitments and responsibilities alongside their professional roles.
Bruce Farquhar, partner and chair at Anderson Strathern said: “It’s no secret that law firms are having to work hard to recruit the best people right now. The fact that we can do so is testament to our commitment to offering agile working from day one. It is definitely giving us an edge at a time when professionals of this calibre have so many options to choose from. Last year we enjoyed strong performance and, with these experts bolstering our team, we are robustly placed to drive further growth in 2023.”
Lorraine Currie, one of only four solicitors accredited by the Law Society of Scotland as a specialist in Freedom of Information and Data Protection Law, has joined Anderson Strathern following eight-years at the Scottish Information Commissioner’s office. She brings a wealth of insight on the duties and regulation around data protection and Freedom of Information required across both the public and private sectors. Having recently returned to work after having her first child, Lorraine credits the firm’s flexible working policy for enabling her to return to private practice while maintaining her work-life balance, as it allowed her to set the specific working hours she needed to handle childcare alongside her casework.
Tim Macdonald, an agricultural law specialist, brings almost a decade of experience working on the purchase and sale of farms and estates, agricultural tenancies and farming partnerships.
Tim said: “It is important for me to be able to balance my role as the parent of three young children with my legal career, so when Anderson Strathern outlined their options for flexible working it was a big draw for me. The initiative is firm-wide and applies from day one, regardless of role.”
Anderson Strathern has also appointed Caroline Pringle as a senior member of its private client team. She joins the firm with a decade of experience advising families, trustees and organisations on their estate planning and asset protection, with a particular focus on succession planning, inheritance and capital gains tax mitigation.
Named one of eprivateclient’s ‘Top 35 Under 35’ in 2016, Caroline says she chose the firm for its “fantastic reputation”, as well as its forward thinking and supportive approach which fits with her commitments to her very young family. The former Acting Director of Regulation at Scotland’s largest regulator, the Scottish Social Security Council, is also among the firm’s new faces.
Chris Weir has been appointed director within the professional regulation team, and says he is enthusiastic about applying his strategic and operational experience to a commercial environment.
Having worked closely with Anderson Strathern in his previous role, Chris says he was “hugely impressed” by the firm’s knowledge in public law and professional regulation. But it was the super agile working policy that was the crucial decider for the dad of two, who credits the option for flexibility with his decision to join the company.
Law firm TLT has appointed corporate lawyer Douglas Roberts, as partner, reinforcing its UK-wide corporate team, further positioning the firm as a leader in this practice area and bolstering TLT’s corporate offering in Scotland.
Previously a corporate partner at Lindsays, Douglas’ portfolio includes over twenty years of M&A, equity investments and corporate advisory work across a broad spectrum of clients, including SMEs, family businesses and start-ups. His general corporate experience spans a broad spectrum of sectors, including technology, energy supply, finance, retail, engineering and property.
Douglas has a particular specialism in employee ownership transactions, having advised on more than 30 transitions to employee ownership in Scotland, including the Alan Steel Asset Management, Kidzcare, The Scottish Gallery and Reid & Fraser transactions. He has also garnered an excellent reputation for his sports experience, having worked on secondment for the Glasgow Commonwealth Games 2014, alongside regularly advising teams, sponsors, athletes and other sporting organisations. Douglas was instructed in one of the highest profile sports law cases in Scotland in which he successfully represented Dundee United FC, Raith Rovers FC and Cove Rangers FC in securing their promotions during the Covid pandemic.
As a seasoned corporate advisor in the Edinburgh market, Douglas has worked with financial and wealth advisors across a variety of locations and sectors over the course of his career, allowing him to provide a holistic, client-centric dealmaking approach.
At TLT, Douglas will join the national corporate team’s growing base in Edinburgh and link up with the wider Employee Ownership advisory team who have previously advised Aardman and Alastair Sawday on their transition to employee ownership.
John Paul Sheridan, head of location in Scotland at TLT said: “We’re delighted to welcome Douglas to our corporate team, supporting the strategic growth of our corporate team in Scotland. Douglas’ exceptional reputation for his experience, network and dedication to client services will serve both as an ongoing example of TLT’s value proposition and as new momentum driving future growth. With sales to employee ownership structures likely to remain a key opportunity in 2023, Douglas’ EO specialisation will likely prove especially valuable for developing new business going forward.”
Douglas said, “I’m delighted to be joining TLT during an exciting period of growth for the corporate team. With the team being involved in some of the most significant deals and transactions in the UK, I’m looking forward to helping drive this area of the business forwards.”
TLT’s recruitment of Douglas is part of an ongoing strategy to grow the national corporate team, whilst expanding the Scotland offices across service lines and sectors. Douglas’ appointment follows two other recent appointments to the Edinburgh corporate team: Leading commercial lawyer Dr Julie Nixon joins as managing associate alongside corporate lawyer Nimarta Cheema, senior associate.
New data has revealed that overall compliance with Edinburgh’s Low Emission Zone (LEZ) emissions standards has increased by more than 60% over the last six years. Over three quarters of vehicles are now compliant.
However, more than half of diesel cars and a third of light goods vehicles (such as transit vans) travelling on the main routes into Edinburgh don’t currently comply with the requirements of the city’s Low Emission Zone (LEZ), according to the data analysed by the Scottish Environment Protection Agency (SEPA).
SEPA gathered information from temporary monitoring Automatic Number Plate Recognition (ANPR) cameras placed on main roads leading into the city from the north, south, east and west. The data can be viewed on a publicly accessible tool, developed by SEPA, which compares data from 2016 to 2022.
A city centre LEZ was formally introduced in Edinburgh on 31 May 2022, along with LEZs in Glasgow, Aberdeen and Dundee. To help improve air quality and protect public health, Edinburgh’s LEZ will restrict the most polluting vehicles from the boundary, which will significantly reduce harmful traffic-related emissions of nitrogen oxides (NOx) by up to 50% in the zone*. Further air quality improvements are expected across the wider city.
A two-year grace period is in place and no penalty charges will be issued during this time to help people and businesses adjust. From 1 June 2024, any vehicles that don’t meet the minimum emission standards will be subject to penalties.
Councillor Scott Arthur, Transport and Environment Convener, said:
Last year we joined cities across Scotland to introduce a city centre LEZ, which will play a central role in lowering harmful emissions in Edinburgh. We all have the right to breathe clean air and it’s our duty to do everything in our power to drive down air pollution and protect public health.
Of course, these kinds of changes take some adjustment, and the two-year grace period is giving people time to prepare and make sure they avoid penalties once enforcement begins. It’s really encouraging that compliance is on the rise across all kinds of vehicles, with the LEZ helping to accelerate this positive transition towards cleaner vehicles. Thanks to all those who have made the change.
There’s still some way to go though, and I’d urge everyone travelling into Edinburgh to find out more about the LEZ, the support on offer and options for travelling more sustainably – choosing to walk, wheel, cycle or use public transport is the best way to help keep Edinburgh’s air clean.
Dr Colin Gillespie, Air Modelling Unit Manager at SEPA, said:
The development of LEZs across Scotland is built on science led by SEPA’s air quality modelling work. As part of the development of Edinburgh’s LEZ scheme, councillors used bespoke modelling tools to make informed decisions on the most appropriate way to achieve air quality improvements across the city. This latest data shows positive changes are being made, such as the increasing numbers of electric or hybrid vehicles being registered.
Air pollution is one of the most important environmental health risks of our time, so the introduction of LEZs will aim to accelerate air quality improvements in the most polluted areas of our cities. SEPA is proud to play an important part in this collaborative work.
SEPA’s analysis of the data found:
• Overall compliance with emissions standards for all vehicles over the last six years has increased from 48% to 78%.
• Lowest compliance is among diesel cars (50%), light goods vehicles (65%) and taxis (73%).
• The vehicles with highest compliance are buses (97%), petrol cars (95%) and Heavy Goods Vehicles (86%).
• There have been significant improvements across different vehicle types over the last six years – compliance has increased for taxis from 21% to 73%, for buses from 24% to 97%, for LGVs from 7% to 66% and HGVs from 38% to 86%.
• The proportion of new cars registered that are diesel has fallen from almost 50% to 11% over the past 15 years. Around 55% of new cars registered are now petrol and 36% of new cars are electric or hybrid.
LEZ restrictions will apply to motor vehicles, except motorcycles and mopeds. Vehicles must meet the minimum emissions standards to drive into the zone freely, though national exemptions will apply including for blue badge holders and emergency vehicles. Zero emission vehicles (electric) may enter the zone freely.
There’s national grant funding available to help those who are most likely to find it difficult adjusting to the changes. Eligible small businesses, sole traders and households on low incomes within 20 km (12 miles) of the zone can apply for grants from the Energy Saving Trust.
Find out more about the LEZ on our website.
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A team of Apprentices working at aerospace engineering company Leonardo have just completed their first sustainable energy efficiency project that has been so effective, it is set to be rolled out in the company’s labs at Crewe Toll in Edinburgh.
The team comprising apprentices Samuel Ramsay, Marina Hendren, Scout Horan, Sam Morton and Daniel Friel, conducted a study in the Receiver Lab in Edinburgh, to investigate the potential to reduce energy consumption on site.
Design Engineering Graduate Apprentice Sam Morton, joined Leonardo in Edinburgh after receiving straight As in her Advanced Highers in maths, physics and applied mechanics at Hamilton College in Hamilton.
Sam said: “People were very helpful when we reached out to our lab workers and lab managers. Our team leader Iain Adamson guided us in the use of engineering techniques to break down our tasks into a logical process. The Receiver Lab where we conducted the project is an important part of the business, as that is where we do a lot of test work on receiver parts and components. The receiver is the part of the radar that collects information coming in from the radar array.”
The team analysed the impact of this energy wastage over a two-week period and discovered it was the equivalent of watching TV for over 9000 hours, enough to view every episode of the Simpsons 36 times.
The team of apprentices then identified that there was a significant proportion of equipment left on while not in use. For the purposes of their study, they decided to class this as ‘wasted energy’.
Working with the Lab Managers and users, they designed a process where individuals were assigned responsibility for sustainable energy usage in each lab area, to ensure unused equipment was switched off.
They calculated that over the duration of the project, their process had reduced wasted energy by 53% in the Receiver Lab. This was achieved by implementing a process to highlight when equipment was not in use to establish behaviour changes to turn unused equipment off. The apprentices soon identified that this process, and the resulting improvements, could be copied anywhere.
The project has been so well received by the business that it is now being rolled out across the site’s laboratories.
Sam said: “Going forward, there will be two or three engineers acting as Sustainability Champions in each of the labs. These engineers work there regularly and understand the equipment. They know whether it can be switched off safely and what needs to be left on for long running tests.”
Mark Stead, SVP, Radar and Advanced Targeting said: “Many of the company’s senior leaders began their careers as apprentices, and a significant number of apprentices go on to undertake degrees and achieve graduate status. This was our Edinburgh apprentices’ first energy efficiency project and it reduced our carbon footprint in a measurable way. We will continue to encourage and support our apprentices in championing sustainability, as their fresh insights can help us experiment and explore our path to net zero both today at the start of their careers and in the years to come as they continue to grow as professionals.”
Lloyds Bank’s Business Barometer for February 2023 shows:
- Business confidence in Scotland rose four points during February to 14%
- Scottish businesses identified their top target areas for growth in the next six months as hiring new employees (43%), introducing new technology (31%) and evolving their offer (30%)
- Overall, UK business confidence remained positive in February at 21% and 31% of firms reported feeling positive about their own trading prospects for the year ahead
Business confidence in Scotland rose four points during February to 14%, according to the latest Business Barometer from Bank of Scotland Commercial Banking.
Companies in Scotland reported lower confidence in their own business prospects month-on-month, down one point at 7%. When taken alongside their optimism in the economy, up eight points to 20%, this gives a headline confidence reading of 14%.
Scottish businesses identified their top target areas for growth in the next six months as investing in their team (43%), introducing new technology (31%) and evolving their offer (30%).
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
A net balance of 1% of businesses in the region expect to reduce staff levels over the next year, down 15 points from January when a net balance of 14% of businesses planned to create new jobs.
Overall UK business confidence decreased by just one point to 21% in February. Firms remained positive about their own trading prospects with a net balance of 31% expecting business activity to increase in the coming 12 months.
Firms also reported plans to create new jobs with 20% of businesses intending to make new hires over the next 12 months – up three points from January.
All UK regions and nations reported a positive confidence reading in February, with six areas reporting a month-on-month increase in confidence. Of those, the West Midlands (up 30 points to 48%) and Yorkshire and Humber (up 22 points to 34%) saw the largest monthly increases.
Chris Lawrie, area director for Scotland at Lloyds Bank Commercial Banking, said: “After a dip in confidence in January, it is good to see that businesses are once again feeling optimistic about their own trading prospects and the wider economy.
“However, rising costs, supply chain challenges and skills shortages are still affecting several key sectors across the country. As firms grapple with these challenges it’s easy for attention to pull away from seizing opportunities for growth.
“Firms that keep a close eye on cash flow and manage their working capital will be best placed to take on any unforeseen challenges and go after prospects in the months ahead.”
Retail confidence bounced back, rising for the first time in three months to 21% (up 14 points), led by improvements in both trading prospects and economic optimism. However, business confidence fell in construction (down eight points to 19%) and services (down five points to 20%) although this remains higher than in the latter part of 2022.
Scotland only: Paul Gordon, Managing Director for SME and Mid Corporates, Lloyds Bank Commercial Banking, said: “While overall confidence has dipped slightly, it’s encouraging to see businesses backing their own trading prospects. This may well be down to the easing of cost pressures as we see the prices of commodities such as oil and energy coming down. At the same time, with pay expectations easing, this may be giving businesses the boost they need to weather the rest of the year.”
“As we move further into 2023, focusing on growth and investment should be key for businesses across the sectors, while ensuring that margins and cash flow are also prioritised.”
Hann-Ju Ho, senior economist for Lloyds Bank Commercial Banking, said: “Business confidence has lost a little momentum this month, following the strong gains seen recently. Firms are feeling more cautious about the wider economy. However, confidence in their own trading prospects continues to strengthen, helped by tentative signs that wage and other cost pressures may be reducing.
“While inflation appears to be tapering, pressures on consumers will need to ease further to help make it a more stable environment for businesses to operate.”
