The London Henrys* struggling on £100k a year (yes, really)
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STV News
12 minutes ago
- STV News
'No joined-up thinking': Accommodation providers voice concerns as visitor levy nears
Hotel and B&B owners in Edinburgh say there has been 'no joined-up thinking' around tourism planning as the city moves toward introducing its long-debated 5% visitor levy. The charge, which comes into force on July 24 2026, will apply to all paid overnight stays in the Capital, capped at five consecutive nights. City officials estimate it could raise up to £50m a year, to be reinvested back into services and infrastructure used by businesses and visitors. But accommodation providers say that the implementation of the tourist tax remains unclear – with many having to collect the levy on advance bookings from October. STV News B&B owners say there's a 'lack of information' from the council as visitor levy deadline looms Festival season has arrived in Edinburgh – and the city is teeming with tourists. By this time next year, visitors will face the extra cost of a tourism levy on top of accommodation bills. The Council say that cash will be invested in protecting and enhancing Edinburgh's appeal as a place to live in and visit. James Marshall runs the Crioch Guest House in Leith, where he and his wife are the only members of staff. They will need to start taking the fee on advance bookings from October this year – and he says he's none the wiser on how it'll all work. 'It's getting to crunch time,' he told STV News. 'I haven't heard anything. I have no idea how it's going and that's a problem. Even the website hasn't been updated since last year. 'There are a lot of people like ourselves who need to know what's going on, so we can have discussions with our guests and prepare them for what's coming. I want to know more and I don't think that should be difficult – it's not a mass infrastructure project.' STV News Accommodation providers say short-term let rules already added significant costs – and the levy is 'an extra layer' Edinburgh is not the first popular tourist destination to charge such a levy. Rome, Barcelona and Amsterdam are just some of the European hotspots that have brought in a tourist tax over the years. Closer to home, both Manchester and Liverpool brought in smaller-scale levies for hotels and serviced apartments of £2 and £1 overnight in 2023. But Edinburgh's scheme is the first to cover every kind of accommodation, using Scotland-wide legislation that was passed last year. James said the levy adds an 'extra layer' of costs to Edinburgh's tourism sector, following the introduction of short-term let licensing laws, and that businesses 'need a break.' 'We've had lots of certifications – safety, electric, gas testing, water quality, smoke and carbon monoxide. 'All of those add costs, but the guests don't really see that. Now they want to add 5% on top of that. 'Lots of people like ourselves have been going for many years, decided this is too much and they give up and sell up. 'We're still going. We've done the work, we're busy and people are enjoying their stay – but lots of people outside the cities run a much more marginal business. They don't have the year-round custom.' James added: 'There's not been joined-up thinking in tourism. They see it as something to be harvested and they forget about the effects on real people and their livelihoods. 'It's really something that we're already some of the highest taxed tourist accommodations across Europe.' STV News Edinburgh's tourist tax to come into force next summer But the City of Edinburgh Council say the visitor levy scheme has not changed since being published in January and insists all information on the website is up to date. The development of a digital platform which will be used for collections is said to be running to schedule, with training and sign-up pencilled in for spring next year. The first returns and payments on the levy won't be due until October 2026. Council Leader Jane Meagher said: 'With one year to go, we're working closely with industry, government, and VisitScotland to continue our preparations for the levy's launch. 'This is a once in a lifetime opportunity to invest tens of millions of pounds towards enhancing and sustaining the things that make our city such a great place to visit – and live in – all year round. 'We'd be expecting to raise almost £5m in August from overnight visits to our annual festivals and events like Oasis. Hosting these visitors comes with fantastic economic benefits but it also puts pressure on the city. 'We're also looking forward to making detailed spending decisions at Council Committees – with input from our newly established Visitor Levy Advisory Forum – so that we can get moving quickly in delivering the many benefits Edinburgh's visitor levy will bring.' STV News Federation of Small Businesses' East of Scotland development manager Garry Clark The Federation of Small Businesses say that such a large scheme should have more thorough and detailed guidance – especially with the requirement for charging the levy on advanced bookings looming large. They fear without this the implementation could be a 'disaster'. Development manager Garry Clark said: 'Here we are in the middle of festival season, and there's still no information about what businesses need to do in just nine weeks' time. That's a real concern. 'We need to see a detailed roadmap published by the council, letting businesses know every step along the way – what they need to do, when they need to do it, and the advice they need to give to their customers. So that the levy is paid on time, transferred to the council, and spent appropriately. 'We've seen more and more small businesses that really like the idea of raising money locally and spending it locally to improve the visitor experience. 'We all want to work towards that. But it needs to work for everyone.' Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
Finextra
13 hours ago
- Finextra
Vennre opens the door to high growth startup deals for qualified individual investors
Vennre, a digital wealth creation platform enabling access to private market investments, has announced the launch of Venture Capital Co-Investments, a first of its kind offering that opens the door to high growth startup deals for qualified individual investors, with entry starting at just $5,000. 0 The launch marks a major milestone in Vennre's growth, following the platform's achievement of over $25 million (SAR 100 million) in Total Transaction Value (TTV) across both income and growth oriented deals - reflecting the sharp rise in investor demand. With over 50% of investors reinvesting and all deals' income was distributed in line or exceeding the scheduled budgets, the platform's strong repeat engagement highlights growing trust in Vennre's curated and high-impact opportunities. Targeted at Vennre's global community of HENRYs (High Earners, Not Rich Yet), including a growing base of Shariah conscious investors in Saudi Arabia and the wider GCC, this offering finally delivers access to deals long gated behind institutional walls. Ziad Mabsout, CEO of Vennre commented, 'Crossing $25 million in transactions is a proud milestone for our team - and a clear signal of growing investor confidence in our mission. With the launch of venture capital investments, we're unlocking access to high-growth opportunities that were once reserved for institutions - especially for the next generation of qualified HENRYs in Saudi Arabia and across the globe.' The product is fully digital and Shariah compliant, removing the traditional barriers to venture capital investing including high minimums, lack of transparency and limited accessibility, as well as delivering a seamless experience that is tailored to next generation investors. The move also signals a deeper strategic commitment to Saudi Arabia and Vennre is cementing its regional presence in alignment with Vision 2030, which emphasises greater individual participation in investment and wealth creation. By opening the door to curated and high growth startup investments, Vennre is helping reimagine what is possible for qualified investors across the region. This is just the beginning of a broader vision to make private markets smarter, fairer and truly global.
Scotsman
17 hours ago
- Scotsman
Tips for AI-enabled business growth from a business expert
James Disney May A leading tech and automation expert has shared his advice on how businesses can best deliver AI-enabled growth. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, 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... James Disney May's roadmap comes just days after OpenAI and the UK government signed a new strategic partnership in London. The deal will formalise collaborative efforts to expand AI security research, explore infrastructure investment, and integrate AI into public services, building on OpenAI's establishment of its first international office in the UK two years ago. Advertisement Hide Ad Advertisement Hide Ad It is likely to open up new opportunities for UK businesses looking to use AI to turbocharge growth. But according to expert James Disney May, who specialises in supporting businesses in this area, many are still unsure where to start. He said: 'Too many organisations rush into AI expecting a revolution and walk away with a proof of concept. There's a real gap between adopting AI and making it work. The firms that succeed are really asking what specific problems they're actually trying to solve. 'Analysts project that AI could contribute over £200 billion to the UK economy by the mid-2030s. The sooner you move from planning to action, the better positioned you'll be to claim your share of that growth.' Advertisement Hide Ad Advertisement Hide Ad James' comments come as companies across the UK continue to invest and experiment, and, crucially, are starting to see returns from integrating AI into their businesses. According to a report by Lloyds, 82% of firms using AI report increased productivity, and 76% are seeing improved profitability. The latest figures also show that nearly 70% of businesses are actively using or exploring AI. Yet for all this enthusiasm, results remain uneven. Some leaders are turning investment into real growth. Others are stuck in a cycle of pilots and presentations that never quite convert to performance. Here James shares his thoughts on how business can leverage AI to stay competitive in the changing business landscape: 1. Choose Use Cases That Solve Real Problems 'Let me be honest, if you're putting AI on your roadmap just to keep up appearances, you're wasting time and money. I've seen too many organisations jump in with grand visions and no idea what outcome they're chasing. My advice? Pick one real problem. Something your customers complain about, something that drains your team's energy, something you can measure.' 'In essence, it's about making something work at the coalface. The most effective AI projects start with a specific use case, delivery delays, poor forecasting, inconsistent customer service or any other business area' Advertisement Hide Ad Advertisement Hide Ad 'This approach is data-backed, Moneypenny showed that 40% of UK firms seeing real results are the ones applying AI selectively and strategically.' 2. Prioritise People Over Platforms 'The biggest mistake I see is leaders treating AI like a tech rollout instead of a mindset shift. I've said it before and I'll say it again - AI is not a systems issue, it's a trust issue. Your people don't need to become coders, but they do need to understand what's coming and why it matters to them.' 'This year, 63% of UK companies are investing in AI upskilling, but data shows too are many still relying on generic workshops. A mistake like this could leave your workforce confused rather than empowered.' 'If you want adoption, you've got to show teams what AI does in their world, not just in theory. Walk them through it, demystify it, and most importantly, invite their input.' 3. Build a Strong Data Foundation Advertisement Hide Ad Advertisement Hide Ad 'It is a universal truth that no model is better than the data it is working with. There are several examples where AI implementation has crumbled because of poor quality or faulty data input.' 'As an SME, you don't need to build vast systems, but you do need to maintain records that are clean and reliable. Investing in governance, structure, and data hygiene is a great place to initiate AI deployment.' 4. Make Ethics and Governance a Priority from Day One 'If your board doesn't understand your AI strategy, you've got a problem. And if your customers can't understand how a decision was made, you've got a bigger one. According to the Institute of Directors, more than half of UK firms lack board-level AI expertise. That's a gap you need to fill, fast. Ethics is all about calculated decision-making.' 'Ask yourself if you can explain what your AI is doing and why? If you can challenge its outputs? If not, you might want to reconsider full-scale application.' 5. Use AI to Reinvent and Break the Cycle Advertisement Hide Ad Advertisement Hide Ad 'Efficiency is a tempting target. But if AI's only saving you a few hours a week, you're missing the bigger play. The real value is in reimagining how you serve customers, how you price or how you respond in real time.' 'The UK Government's £14 billion AI Opportunities Action Plan is all about modernisation and growth. With AI Growth Zones and sector support, the ground is fertile for those bold enough to try something new. Ask yourself: what product, service, or insight could we offer now that wasn't possible two years ago?' For more information visit
