How does the SNP support Scottish business, enterprise & innovation?

We are setting Scotland up to prosper, supporting businesses and entrepreneurs and creating the conditions for them to thrive. Thanks to sustained focus by the SNP through policies like Techscaler, Scotland is by far the fastest growing start-up economy in the UK and one of the fastest growing in Europe.

We established a Scottish National Investment Bank to give businesses the long-term capital they need to grow and create jobs. This is in addition to the SNP’s long-standing support for small businesses through the Small Business Bonus Scheme, which has abolished business rates for around 100,000 premises.

There is no denying that Scotland has the potential to lead in high growth sectors, like net zero industries, life sciences, innovation, and AI. On the world stage, there can be no better investment than an investment in Scottish innovation.

Scotland has the talent, skills, and resources in abundance to be a major player in the energy transition and secure a prosperous and sustainable future. Increasing the level of private investment into Scotland’s economy is essential to Scotland’s ambitions for growth, for jobs, for reaching net-zero, and for improving our public services.

Scotland is a hotbed of innovation, full of businesses with great potential for growth, with indisputable strengths in manufacturing, industry, energy and a rapidly emerging net zero sector.

Our continued investment in an expanded £15 million Enterprise Package will grow Scotland’s start up economy and contribute towards our ambition of establishing Scotland as a top performing start up economy, with £4million to expand the number of women entrepreneurs.

We are determined to protect and grow Scotland’s business interests around the world. Demand for Scottish products and services around the world is high and global customers recognise the innovation, quality and ambition of our businesses.

In response to concerns about trade with the USA and the wider impact of US tariffs, we are putting in place a new Six Point Export Plan to focus on actions to unlock target markets, showcase Scotland to global buyers and enable more companies to participate in trade missions to both established and emerging markets.

In the last financial year Scottish Enterprise, whose overseas brand is Scottish Development International, reported £2.15 billion in planned international sales from the Scottish companies it has helped – among the highest results ever achieved.

In Scotland, over 95% of non-domestic properties will pay lower property tax than anywhere else in the UK, with over 100,000 taken out of rates altogether. We are protecting the Small Business Bonus Scheme – the most generous small business rates relief in the UK.

Businesses and communities continue to be supported through 40% Non-Domestic Rates relief for the 92% of hospitality premises liable for the Basic Property Rate, capped at £110,000 per business, and hospitality rates relief is 100% in Scotland’s islands. Outside of hospitality, the Basic Property Rate will be frozen at 49.8p – the lowest such rate in the UK for the seventh year in a row.

The SNP in government has listened to the concerns of business, in the face of significant financial pressures resulting from staff shortages and high energy prices – as well as Labour’s National Insurance hike, which is estimated to take over £2 billion out of the Scottish economy next year.