Research finds Scots business start up rates continue to fall
With a new report from Strathclyde University showing signs that business start up rates in Scotland are still in decline, The Drum spoke to recent PR start up, Wire Media about how it came into being.
The research conducted by Strathclyde University has found that the number of business being formed in Scotland, compared to comparable countries has widened significantly, with only Japan and Beligum having lower start-up rates from similar countries.
Commenting on the news was Pam Scobbie, who started up her own Glasgow-based PR consultancy alongside former Burt Greener colleague Lee Beattie, in March.
Scobbie explained that, compared to a few years ago, financial support for new companies was ‘barely non-existent’.
“It’s understandable considering the current climate but it makes it crucial for those thinking about striking out on their own to have a pre-existing revenue stream. There are no buffers, other than very small grants, to be accessed through the likes of Business Gateway and this can really put people off making the jump,” Scobbie continued.
“What is encouraging that, once established, there seems to be plenty of work to be had. It’s been said that marketing and communications has been a bit more resilient than other sectors and that’s certainly been our experience. It’s fertile ground at the moment – given that many clients are looking to shake things up and gain fresh perspectives, there are regular opportunities for new, hungry companies like ours.”
Scobbie continued to say that the transition was made easier through the experience and number of contacts that the two had made in the years prior to beginning their own company, who wanted to continue to work with them.
“We’ve met with Business Gateway, who have been great for general advice and I’m sure will be able to offer learning tools for the future, but the main thing is to know for sure that others are willing to invest in your services. From there, everything else can grow.”