Rising Scottish business confidence outpaces UK average
While Scottish firms' optimism in the economy fell five points to 43%, their confidence in their own business prospects rose 23 points month-on-month to 70%. Taken together, this gives a headline confidence reading of 56%, set against 47% in June.
Looking ahead to the next six months, Scottish businesses identified their top target areas for growth as introducing new technology, such as AI and automation, entering new markets and investing in their team, for example through training.
The Business Barometer, which surveys 1,200 businesses and has been running since 2002, provides early signals about UK economic trends both regionally and nationwide.
Overall, UK business confidence increased one point in July to 52% – its highest level since 2015 and the third consecutive monthly increase.
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Firms' optimism in their own trading prospects rose one point to 58%, while their confidence in the wider economy increased two points to 47%
July saw the service sector's confidence increase by 11 points to 61%, one of the main drivers behind this month's overall increase in business confidence, indicating strong momentum in the sector. This gain was partially offset by declines in other areas, with retail firms down eight points, manufacturers down four points and the construction sector down six points.
Martyn Kendrick, Scotland director at Bank of Scotland Commercial Banking, said: 'It's very encouraging to see Scottish business confidence not only rising in July, but once again outpacing the UK average.
'Technology is set to play a particularly important part in Scottish firms' plans, with more businesses identifying it as a key avenue for growth than anywhere else in the UK. We'll continue to support businesses' investments in this space, and beyond, as they press ahead with their ambitions.'
Hann-Ju Ho, senior economist at Lloyds Commercial Banking, said: 'This continued upward trend reflects a growing sense of cautious optimism across the UK economy, underpinned by both improved trading prospects and broader economic sentiment. Despite ongoing cost pressures, firms are positioning for growth, particularly in services where hiring and investment plans are accelerating.
'Overall business confidence remains buoyant, with firms well placed to take advantage of opportunities such as new markets, adopting new technology and workforce expansion amid evolving market conditions.'
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The National
3 hours ago
- The National
Mick Kennedy on East Kilbride, not getting paid, & hating Aberdeen win
To illustrate the point, he recalls the story of the day he met owners Paul and James Kean to discuss taking the job at Scotland's newest senior team. The way he tells it makes it hard to be sure who was interviewing whom. After assuring the Kean brothers that he would find a way to get them through the quagmire of the pyramid play-offs into the senior leagues, Kennedy had one question bouncing around his head. What then? 'If all they wanted was to make it to League Two and sit there consolidating, then I wasn't the man for the job,' he says now. 'So I told them that we should be looking to be in the Championship within five years. That was two years ago. 'I think you can do that steadily and sustainably as the prize money increases. Then if we get the right backing from sponsors and fans…' A bold target for a club preparing to play their first ever League Two game against Spartans, Kennedy sees no harm in setting the bar high or showing a bit of ambition. Formed in 2010 to deliver senior league football to a new town of 75,000 people on the southern fringes of Glasgow, rivals in the lower reaches of Scottish football tend to eye the new boys with something close to suspicion. Regarded sniffily as a club throwing their money around in a quest to buy their way into the senior leagues – don't they all? – Kennedy claims the club's growth is more incremental and sustainable than that. Rubbishing talk of a big player budget he makes no attempt to play down the big targets, the big ambitions, in his head. The bar is set high. By way of an example he recalls an interview with Ian Maxwell where the SFA chief executive spoke of Scotland punching above their weight since Steve Clarke's appointment. 'I just think that's the wrong language to be using. When you tell people that stuff they start to believe it and then when failure comes they accept it because they've been told they're not really meant to be in that environment. They're not really meant to be successful.' Read more: Celtic manager Brendan Rodgers on why Russell Martin will cope with Rangers pressure Are Falkirk going to rub Scottish football's face in its own faeces this season? He knows, more than anyone, what can happen when a small club dares to think big. As manager of Darvel, the 45-year-old oversaw one of the biggest upsets in Scottish football history when the non-league Ayrshire side team toppled an Aberdeen side five leagues higher in the pyramid. Like an artist trying to write the follow-up to that No.1 novelty hit, Kennedy knows how catchy the win over Aberdeen was to the country at large, but hates the idea of playing the same tune over and over until he grows sick of it. He's reluctant to be defined by one game of football. 'I actually hate that game now,' he laughs. 'I think I've managed now for 10 years and I've won nine leagues, but I get it. 'We actually went to Montrose, who were sitting second in League One the round before, and beat them 5-2. 'I was more impressed with that performance than I was with the Aberdeen performance. 'I said to the players here at East Kilbride a couple of weeks ago that success to me is winning trophies. 'Winning one game of football is not success to me. 'Success is winning stuff. That's how you should be judged. 'It's great to have those moments like Aberdeen but that's all they are. Moments.' The comedown from toppling [[Aberdeen]] and nudging Jim Goodwin towards the Pittodrie exit was swift and brutal. John McGlynn's Falkirk travelled to Darvel in the next round and romped to a 5-1 win, with Kennedy savaged on social media for a pre-match team talk – aired on the BBC – where he branded his [[Ayr]]shire heroes, 'soldiers of love.' Laughing, he glances around the club's impressive K-Park facility and the first player to catch his eye is defender Sean Fagan as he ambles past en route to training. 'I say some strange things Sean eh?…' There is no disagreement or dissent and, by the sounds of things, that's probably for the best. A modern manager who puts the emphasis on building individual relationships with players, Kennedy uses the half-time hairdryer sparingly and sees no point in ranting and raving at players like the 21st century incarnation of Jim McLean. He will admit, however, to running the East Kilbride dressing room like a 'dictatorship.' 'It's not a dictatorship in the sense of I'm screaming and shouting. 'But speak to any of the boys here and they would tell you that, with no disrespect to other part-time clubs, it's the most professional environment they have been in. 'The demands are so high, so, so high. And that's in everything we do. The culture, the ethos. 'How we train, how we play. Everybody is expected to do additional work away from training and if they don't do it then they don't get in the squad on a Saturday. 'We don't carry anybody. The minute we feel we're carrying anybody, or trying to convince then they are gone. 'We have dietary requirements, we keep an eye on weight, body fat. It's proper intense.' That being the case, a discount card to the Black Rooster Peri Peri restaurant chain seems unlikely to be included in the bonus section of a player's contract. Raised in Abercrombie Street in Glasgow's Calton district, Kennedy worked for the Wheatley Housing group, Scotland's biggest social landlord, before he co-founded Black Rooster in 2017. The chain has now expanded to 19 stores and is moving into the London market. Effectively full-time at East Kilbride, business partner Kevin Bell handles the other stuff. Unusually for a manager in the senior game, Kennedy accepts no payment for his work. He doesn't need the money and would happily return to amateur football tomorrow if the enjoyment of coaching at a higher level drained away. 'I have always said that I will never take a wage anywhere I go. 'Because I would never want to be conflicted by that. 'I speak to lots of managers in the leagues and it's tough. Guys in full-time jobs and guys in part-time jobs and they need the income, they need the job. 'The alternative if they chuck it is working on a building site on a Monday morning or something. 'So I understand why they put up with that stress and pressure of management even when they're not enjoying it. 'The difference with me is that I only ever go somewhere if I am going to enjoy it and if I ever felt like I didn't enjoy it I would instantly stop.' In an industry where money dictates every cough and spit, it's an unusual approach. 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Now that he is, he addresses the quest to deliver success with the passion and zeal of a methodist preacher. His conversation is peppered with talk of culture, values, and behaviours. While other clubs in League Two fret and worry over the cost of fixing the enclosure roof or plummeting through the trap door leading to the Lowland or Highland Leagues – from where few return – East Kilbride are focused on building a football club moving in an upwards trajectory. 'The owners put their heart and soul into this club, and they want to leave a real legacy. 'The club is owned by a trust, a charity they set up and invested in. 'The last thing they want to do is let this all fall apart when they're not here any longer.' Living in the shadows of Celtic and Rangers brings obvious challenges. The club's average crowd can be measured in hundreds rather than thousands. They beat Championship Raith Rovers in Kirkcaldy in the Premier Sports Cup and won again in Elgin, but lost six goals to Inverness after running out of legs in the second half. While a new stand was installed to meet SPFL entry criteria, [[East Kilbride]] remain a work in progress, off the pitch and on it. 'I brought the average age of the squad down to 23 this year, and that was on purpose. 'We want to be known as a club which brings boys in to play a certain style of football and gain the opportunity to move on.
The Herald Scotland
3 hours ago
- The Herald Scotland
Mick Kennedy on East Kilbride, not getting paid, & hating Aberdeen win
To illustrate the point, he recalls the story of the day he met owners Paul and James Kean to discuss taking the job at Scotland's newest senior team. The way he tells it makes it hard to be sure who was interviewing whom. After assuring the Kean brothers that he would find a way to get them through the quagmire of the pyramid play-offs into the senior leagues, Kennedy had one question bouncing around his head. What then? 'If all they wanted was to make it to League Two and sit there consolidating, then I wasn't the man for the job,' he says now. 'So I told them that we should be looking to be in the Championship within five years. That was two years ago. 'I think you can do that steadily and sustainably as the prize money increases. Then if we get the right backing from sponsors and fans…' A bold target for a club preparing to play their first ever League Two game against Spartans, Kennedy sees no harm in setting the bar high or showing a bit of ambition. Formed in 2010 to deliver senior league football to a new town of 75,000 people on the southern fringes of Glasgow, rivals in the lower reaches of Scottish football tend to eye the new boys with something close to suspicion. Regarded sniffily as a club throwing their money around in a quest to buy their way into the senior leagues – don't they all? – Kennedy claims the club's growth is more incremental and sustainable than that. Rubbishing talk of a big player budget he makes no attempt to play down the big targets, the big ambitions, in his head. The bar is set high. By way of an example he recalls an interview with Ian Maxwell where the SFA chief executive spoke of Scotland punching above their weight since Steve Clarke's appointment. 'I just think that's the wrong language to be using. When you tell people that stuff they start to believe it and then when failure comes they accept it because they've been told they're not really meant to be in that environment. They're not really meant to be successful.' Read more: Celtic manager Brendan Rodgers on why Russell Martin will cope with Rangers pressure Are Falkirk going to rub Scottish football's face in its own faeces this season? He knows, more than anyone, what can happen when a small club dares to think big. As manager of Darvel, the 45-year-old oversaw one of the biggest upsets in Scottish football history when the non-league Ayrshire side team toppled an Aberdeen side five leagues higher in the pyramid. Like an artist trying to write the follow-up to that No.1 novelty hit, Kennedy knows how catchy the win over Aberdeen was to the country at large, but hates the idea of playing the same tune over and over until he grows sick of it. He's reluctant to be defined by one game of football. 'I actually hate that game now,' he laughs. 'I think I've managed now for 10 years and I've won nine leagues, but I get it. 'We actually went to Montrose, who were sitting second in League One the round before, and beat them 5-2. 'I was more impressed with that performance than I was with the Aberdeen performance. 'I said to the players here at East Kilbride a couple of weeks ago that success to me is winning trophies. 'Winning one game of football is not success to me. 'Success is winning stuff. That's how you should be judged. 'It's great to have those moments like Aberdeen but that's all they are. Moments.' The comedown from toppling [[Aberdeen]] and nudging Jim Goodwin towards the Pittodrie exit was swift and brutal. John McGlynn's Falkirk travelled to Darvel in the next round and romped to a 5-1 win, with Kennedy savaged on social media for a pre-match team talk – aired on the BBC – where he branded his [[Ayr]]shire heroes, 'soldiers of love.' Laughing, he glances around the club's impressive K-Park facility and the first player to catch his eye is defender Sean Fagan as he ambles past en route to training. 'I say some strange things Sean eh?…' There is no disagreement or dissent and, by the sounds of things, that's probably for the best. A modern manager who puts the emphasis on building individual relationships with players, Kennedy uses the half-time hairdryer sparingly and sees no point in ranting and raving at players like the 21st century incarnation of Jim McLean. He will admit, however, to running the East Kilbride dressing room like a 'dictatorship.' 'It's not a dictatorship in the sense of I'm screaming and shouting. 'But speak to any of the boys here and they would tell you that, with no disrespect to other part-time clubs, it's the most professional environment they have been in. 'The demands are so high, so, so high. And that's in everything we do. The culture, the ethos. 'How we train, how we play. Everybody is expected to do additional work away from training and if they don't do it then they don't get in the squad on a Saturday. 'We don't carry anybody. The minute we feel we're carrying anybody, or trying to convince then they are gone. 'We have dietary requirements, we keep an eye on weight, body fat. It's proper intense.' That being the case, a discount card to the Black Rooster Peri Peri restaurant chain seems unlikely to be included in the bonus section of a player's contract. Raised in Abercrombie Street in Glasgow's Calton district, Kennedy worked for the Wheatley Housing group, Scotland's biggest social landlord, before he co-founded Black Rooster in 2017. The chain has now expanded to 19 stores and is moving into the London market. Effectively full-time at East Kilbride, business partner Kevin Bell handles the other stuff. Unusually for a manager in the senior game, Kennedy accepts no payment for his work. He doesn't need the money and would happily return to amateur football tomorrow if the enjoyment of coaching at a higher level drained away. 'I have always said that I will never take a wage anywhere I go. 'Because I would never want to be conflicted by that. 'I speak to lots of managers in the leagues and it's tough. Guys in full-time jobs and guys in part-time jobs and they need the income, they need the job. 'The alternative if they chuck it is working on a building site on a Monday morning or something. 'So I understand why they put up with that stress and pressure of management even when they're not enjoying it. 'The difference with me is that I only ever go somewhere if I am going to enjoy it and if I ever felt like I didn't enjoy it I would instantly stop.' In an industry where money dictates every cough and spit, it's an unusual approach. In the event of East Kilbride progressing through the leagues – or a bigger club calling – he'd have a decision to make, and a desire to accept a fair day's pay for a fair day's work would be natural enough. For other people, maybe. 'Someone asked me that question recently. 'I suppose if we keep progressing, the club might look to go full-time. 'Or, if I keep doing well against teams above us in the pyramid, a full-time team might come at some point. 'But I genuinely still don't think I would take a wage. 'I think I would just do the job because I felt it was the right thing to do. 'I wouldn't want to be conflicted. 'Clubs know when they hire me that I'm here for the right reasons. 'It's not about self-interest or enriching myself at all. 'I just do this because I love it and the minute I don't love it anymore I stop doing it. 'It has never been this burning desire of mine to be a manager in the senior leagues.' Now that he is, he addresses the quest to deliver success with the passion and zeal of a methodist preacher. His conversation is peppered with talk of culture, values, and behaviours. While other clubs in League Two fret and worry over the cost of fixing the enclosure roof or plummeting through the trap door leading to the Lowland or Highland Leagues – from where few return – East Kilbride are focused on building a football club moving in an upwards trajectory. 'The owners put their heart and soul into this club, and they want to leave a real legacy. 'The club is owned by a trust, a charity they set up and invested in. 'The last thing they want to do is let this all fall apart when they're not here any longer.' Living in the shadows of Celtic and Rangers brings obvious challenges. The club's average crowd can be measured in hundreds rather than thousands. They beat Championship Raith Rovers in Kirkcaldy in the Premier Sports Cup and won again in Elgin, but lost six goals to Inverness after running out of legs in the second half. While a new stand was installed to meet SPFL entry criteria, [[East Kilbride]] remain a work in progress, off the pitch and on it. 'I brought the average age of the squad down to 23 this year, and that was on purpose. 'We want to be known as a club which brings boys in to play a certain style of football and gain the opportunity to move on.
Scotsman
4 hours ago
- Scotsman
Tipping a hat to Scotland's social entrepreneurs
Research by American Express earlier this year found that Generation Z business leaders are pioneering a new approach with purpose, profit, and wellbeing at the forefront of their ventures. Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Research by American Express earlier this year found that Generation Z business leaders are pioneering a new approach with purpose, profit and wellbeing at the forefront of their ventures. The study of UK entrepreneurs and senior leaders aged 18-27 revealed that while 88 per cent see hitting profit targets as the key measure of business success, 85 per cent said it's important for their business to solve problems that others don't, and 82 per cent of the sample considered their business to be 'purpose driven'. Advertisement Hide Ad Advertisement Hide Ad So, what does 'purpose driven' actually mean? Respondents of the survey defined this as a business which 'makes a positive difference to a significant environmental or social issue' (31 per cent), a business 'using its mission and values to guide decision-making' (22 per cent) or one with 'clear ethical credentials' (17 per cent). Leaving a positive legacy was crucial in the study, with 93 per cent of respondents wanting to 'build something that their family will be proud of'. Inmates in Glasgow are being taught the trade of making bread For me, when you see a bona fide purpose-driven business out on the coalface you know – as they say, when you know you know. Back in 2017, I met entrepreneur Matt Fountain, who had given up the chance to study a PhD in the economics of art at Oxford in order to set up social enterprise Freedom Bakery in Low Moss prison near Glasgow. Training inmates to make artisan bread for sale to cafes, restaurants and stores, CEO Fountain said at the time, in a national newspaper report we helped organise: 'We incarcerate people as punishment for a crime, but when they get released they get incarcerated again by society'. Chapeau Matt, chapeau. This week, we handled a press announcement for an initiative which aims to boost the creation and growth of Scottish tech businesses with a social or environmental mission. Techscaler – the Scottish Government's programme for creating, developing and scaling tech startups run by CodeBase – partnered with The Ventures Lab, a global organisation on a mission to support early stage social entrepreneurs, with a view to strengthening the pipeline of impact-driven startups in Scotland. Advertisement Hide Ad Advertisement Hide Ad Dr Kate Smith, CEO and founder of Edinburgh-based ProfessorMe, is one of the purpose-driven companies already receiving support from the partnership. Having developed what the company describes as 'the world's first AI professor', she talks about improving the educational experience for students across the world, including in countries with disrupted education systems. Nick Freer applauds the rise of purpose-driven businesses As Kate, a former journalist, puts it: 'As a world-positive business, we want to reach learners no matter their personal circumstances or location. Research shows that if a woman receives a university education, it positively impacts her family for the next five generations.' 'We share a vision', says Smith, 'that a better world is possible'. I guess that gets to the heart of things when it comes to social entrepreneurs and purpose-driven businesses. The Matt Fountains and Kate Smiths of the world should be applauded and feted. Social entrepreneurs of the world, unite and take over!
