Scotland has seen a notable rise in entrepreneurial activity as the number of graduates launching their own businesses has increased, seemingly as a result of the weak job market. The Global Entrepreneurship Monitor (GEM), compiled by the University of Strathclyde, found that total early-stage entrepreneurial activity (TEA) in Scotland exceeded the average rate in Denmark, Finland, Ireland and Norway and matched levels in 20 innovation-driven economies.
Eric Doyle, General Manager of Aquaterra Energy Aberdeen agrees with the GEM’s conclusions that a joined up approach to fostering entrepreneurship will help young innovators and start-ups to thrive. He said: “Scotland is fertile territory for new business ideas, particularly those involved in or aimed at the high-tech engineering sector, which is thriving here in Aberdeen.
“With the help of government and big business, many of these small enterprises should have a bright future ahead, both in Scotland and exporting their expertise and innovations to the world, in much the same way as Aquaterra Energy already successfully does.”
At the same time, Scottish banks have also reported a rise in the number of business start-ups in Scotland. The Committee of Scottish Bankers (CSCB) said 2,974 new businesses started in the first quarter of 2013, a rise of 9.5% on the previous quarter, although this was still 31.9% lower than the same period last year.