The pandemic has been tough on Scottish businesses. Scotland will receive an additional £1.1billion coronavirus support package from the UK Treasury to allow schemes such as furlough and business loans to continue.
Scotland’s Finance Secretary also recently confirmed that business rates will be waived for another year. It is cold comfort however, as the extra support suggests disruption will continue.
Amidst the upheaval though green shoots of entrepreneurial growth are showing. Scotland has been found to be the home of the highest number of budding entrepreneurs in the UK as a result of Covid-19.
One in ten people declared that, although they hadn’t previously planned to start their own business, the impact of the pandemic had made them reconsider going it alone. Research also found that 32 per cent of Scottish adults had plans to start a business or go freelance.
The research found that women, for the first time, are leading this entrepreneurial charge, with 52 per cent saying that they wanted to become their own boss. I understand the attraction, especially to female workers who desire flexibility and control over their work/life balance.
Women have been shown to be taking on the lion’s share of tasks such as home schooling, so owning a business provides autonomy in an environment that has left many feeling paralysed with uncertainly over the last 12 months.
The pandemic has disproportionately affected women however, with 54 per cent of overall job losses impacting female workers. Many of the sectors worst hit were also heavily dominated by women; retail, beauty, hospitality and travel, so perhaps this entrepreneurial spirit is born out of necessity?
Unfortunately some stats indicate trouble for the female boss. 55 per cent of women business leaders would not recommended starting a business in 2021 and nearly three quarters (71 per cent) of female entrepreneurs found managing their business stressful during the pandemic, compared to just over half of males (55 per cent). Support and encouragement for these female entrepreneurs is essential if they are to succeed.
With International Women’s Day next month (March 8), it’s good to see organisations stepping up to the plate and encouraging this wave of female entrepreneurialism. Last month RBS announced £100 million in funding to help create at least 50,000 new, women–owned businesses by 2023.
Even though evidence shows women are risk averse to debt, female focused funding is crucial to stimulate growth and close a gender gap where only one in three entrepreneurs are women.
Encouragingly, funding and assistance will not be biased to those in Scotland’s central belt. The unique difficulties faced by women in Scotland’s rural communities has also been addressed.
Women’s Enterprise Scotland and Development Trusts Association Scotland (DTAS), announced last week that it will deliver a business-creation programme aimed at women in the islands, East Ayrshire and in the Scottish Borders. The programme will provide women with the information and confidence they need at the very beginning of their start-up journey. Attendees will be taught business planning, pricing and financial management – all business basics required to ensure the best possible chance of success.
Scotland’s female entrepreneurs of tomorrow have not been forgotten either. Last week, Young Enterprise Scotland (YES) and the Royal Bank of Scotland launched the #FemaleBoss programme for Scotland’s college students. This programme aims to encourage and inspire more women to set up their own businesses.
It is estimated that helping female-led businesses to achieve future success could add a further £13bn to the Scottish economy. Closing the entrepreneurial gender gap could grow the Scottish economy by as much as five per cent and create around 35,000 jobs.
Women-owned businesses now contribute £8.8billion to the Scottish economy, but their contribution goes further than purely financial. They create further employment opportunities, diversify sector activity, attract investment and act as role models and mentors to young people.
It is time that we realised the economic potential in harnessing and cultivating female entrepreneurship, creating vital role models to pay their learning forward to young girls.
Hopefully 2021 will be a time for more women to reap the benefits and share the excitement of taking control of their own economic future by becoming their own boss.
A Scottish café has introduced a cashless tipping system, allowing customers to tip staff while lockdown restrictions are in place.
Kauai UK, in Forrest Road, Edinburgh, has started letting workers receive cash tips through an innovative online platform called Tipjar.
The software allows workers to receive tips via QR codes and contactless, allowing for direct and transparent transactions, which are easily shared among members of staff.
Kauai UK, which sells healthy brunch and lunch options, is the first business to introduce Tipjar in Scotland.
In my opinion, introducing contactless tipping system is a fantastic idea as it will be a huge help to workers, particularly in the current climate.
The hospitality industry has taken a major blow to business throughout the pandemic. Most workers have been impacted as a result; with many experiencing furlough, pay cuts or job losses.
On top of that, regular tips will have diminished due to decreased footfall inside of the premises.
Thanks to software like Tipjar, staff who work at premises which can only open for takeaway or delivery can still have access to well-earned tips.
Tipjar was founded by Brewdog managing director, James Brown. He was inspired to create the app after witnessing the challenges faced by the industry on staff earnings being reduced alongside the admin pains businesses faced in managing and distributing tips transparently, fairly and within the complex laws that govern the practice.
I encourage Scottish businesses to follow in Kauai UK’s lead and consider installing a contactless tipping system. Not only does it allow customers to give staff a cash boost while maintaining social distancing, it could help make sharing tips easier in the future when lockdown restrictions ease.
It Made Me Laugh
Over the last few years, Scots have earned a reputation for when it comes to naming road gritters.
Now, Scotland’s hilarious gritter names are having an international reach, inspiring similar schemes in the US and Russia.
According to Transport Scotland, Michigan, Minnesota and South Dakota have followed the country’s lead in America, whilst over in Russia, people are also having fun when naming winter fleets.
Gritters taking to the roads in Michigan, included Plowasaurus Rex, Sir Salts-A-Lot, and Snowboni.
The public put forward names following the success of the initiative in Scotland where trucks have been christened the likes Gritney Spears, Spready Mercury and Buzz Iceclear.
Scottish people are known for their dry sense of humour, so I’m glad to see that this funny tradition is being enjoyed not only here, but also across the globe.
It Made Me Weep
I was deeply saddened to see a video shared by Homeless Project Scotland, showing hundreds queuing at a Glasgow city centre soup kitchen in freezing conditions.
Volunteers estimated as many as 300 people gathered under the Hielanman’s Umbrella on the 12th of February, for hot food, drinks, clothes and blankets – with the temperature plummeting to -5c.
The footage emerged just days after a photo of dozens queuing in the snow for a soup kitchen at George Square went viral.
It’s devastating to see people experiencing hardship and deprivation, and in such extreme winter conditions it’s truly frightening. Sadly, many of those who are struggling have been impacted by the current economic crisis.
If you can manage, please consider supporting organisations like The Homeless Project Scotland, as funding will help provide vital support to those who need it most.
