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Scottish Government publish Economic Action Plan 2018 - 2020

Scottish Government publish Economic Action Plan 2018 - 2020

The Scottish Government have launched their Economic Action Plan 2018-2020.

As part of a response to the business-led Enterprise and Skills Strategic Board, the Economic Action Plan sets out a number of new and existing actions that will work together to build a strong, vibrant and diverse economy that promotes wellbeing and attracts investment.

The plan follows the publication of the State of the Economy Report which found that Scotland’s economy has continued to strengthen in the first half of 2018, with annual GDP growth the strongest since 2014 and above the UK as a whole, and the labour market continues to perform strongly with unemployment falling over the past year and remaining close to its record level.

The Plan includes a pledge to deliver tailored support for Scotland's rural businesses, through their economic development agencies, Business Gateway and GrowBiz, stating that

"There is a greater proportion of microenterprises in rural Scotland than anywhere else in the country. By-and-large these enterprises operate a business model where profit margins and turnover are lower, they have slower trajectories for growth, and the levels of self-employment are higher. These enterprises play an important role in their local economy and are a major source of development with growth of £6.6 billion between 2007-2015. There is untapped potential in our rural economy as its true value to the economy of Scotland is under-represented in statistics due to turnover levels of some microenterprises falling below those required for VAT registration.

We are delivering over £119 million of enterprise support through GrowBiz, LEADER, Highlands and Islands Enterprise and Scottish Enterprise to nearly 1,500 community based and/or micro enterprise projects operating in the rural economy."

You can read the Economic Action Plan here:   economicactionplan.mygov.scot/

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