Why Do Business in Scotland?
Scotland’s economy is built on strong foundations of international commerce and innovation which date back for centuries.
As a country, we have twice been voted ‘European Region of the Future’ in the last four years by the Financial Times’ Foreign Direct Investment magazine, and it isn’t difficult to see why.
Our resilient economy is coupled with a business environment which supports and encourages growth within various sectors. Without a doubt, there is no location more promising for investors and businesses than Scotland.
Investing in Scotland, is a fantastic business decision. Here are ten reasons why.
1. First class education
The education system of Scotland is renowned throughout the world. Scotland has four universities in The Times Higher Education World University Rankings Top 200 and is the most highly educated country in Europe, as rated by the Office on National Statistics. An impressive quality of graduates and skilled young workforce ensures high skills availability.
2. Academic achievement
The high standard of Scottish education is reflected in the fact that 99.9% of Scottish researchers work in disciplines where world leading research is taking place
3. Scientific success
Scotland is internationally renowned for scientific expertise. Five of our universities are rated amongst the top 20 best scientific institutions in the world for scientists
4. World-leading innovations
Scotland’s tradition of ingenuity, creativity and invention has led to a number of world-renowned discoveries and innovations being made in Scotland, including the MRI scanner, cloning research (Dolly the sheep), television, penicillin and the ATM.
5. High returns
Scotland’s competitive labour and efficient operating costs ensures value and offers opportunities to make very high returns on investments. Scotland is one of the most cost-effective regions in the UK, with operating costs almost 30% lower than London. In 2013, Scotland was the top UK region for foreign direct investment projects outside of London according to Ernst & Young.
6. Inward investment
Scotland is a low-risk option for businesses. We’ve attracted £600 million of planned inward investment to Scotland already, with leading international companies such as Amazon, Blackrock and Mitsubishi Power Systems choosing to expand their operations to Scotland. Scotland is home to over 2,000 foreign firms with a combined turnover of £100b.
7. Industry collaboration
Scotland’s 19 higher education institutes work with over 26,000 companies every year to turn R&D into new products. Scotland scores 5.8 out of 7 for university-industry collaboration – above OECD countries such as the USA, Germany and Japan.
8. Small country, big reputation
Scotland was ranked 15th in the 2012 ‘Anholt GfK Ropers Nation Brand Index’. Our national reputation outstrips many similar sized nations.
9. Angel investment
Scotland has more angel investment per capita than any other country in Europe.
10. Quality of life
Along with great economic potential, Scotland also boasts an excellent quality of life which ensures high levels of staff retention for any company. Our workforce enjoys accessible commuting times and vibrant cultural scene, but also having the great outdoors right on their doorstep.