Sustainable success takes a long-term view - Liz McAreavey

The event, kindly hosted by the Michelin-starred The Kitchin in Leith, was attended by 20 business leaders and policy influencers including the British Chambers of Commerce Director General, Shevaun Haviland, and Ivan McKee MSP and former Scottish Government Business Minister.

During the evening, we facilitated a discussion around the need for a modern industrial strategy for Scotland, as well as the need to re-set the relationship between those who create policy and those who create opportunity.

The key theme emerging from our conversation was clear: to achieve economic recovery and sustainable future growth, businesses need a more strategic and forward-thinking approach from policy-makers. Or to put it more succinctly – no more short-termism, please.

Scotland possesses immense potential, and much progress has been made to date through our innovative and determined business community and collaborative academia. However, to truly deliver on our potential, there is a need for meaningful engagement between government and business to pull the various moving parts together into a clear, cohesive and long-term strategy for our economy.

A positive step forward was observed with the recent publication of Scotland’s National Innovation Strategy by the Scottish Government. The Chamber, along with our university partners, actively contributed during the consultation process. While the strategy’s ambition to position Scotland as one of the most innovative small countries in the world is commendable – we look forward to hearing about how the strategy will be implemented, in particular how it will increase links between academia and industry, how it will align with other strategies and how it will provide innovation opportunities and support for vital SMEs.

Much of this will depend on the skills of our workforce, with the ability to recruit the right people with the right skills a constant challenge for growing businesses. In that regard, the recent report to Scottish Government by James Wither, former Chief Executive of Scotland Food and Drink, makes interesting reading.

Wither advocates for a transformative approach to reshape Scotland's current practices, aiming to achieve a world-class skills delivery landscape. This has captured the attention of Ministers, who are actively considering its recommendations - an area to keep a close eye on.

It is worth noting that many aspects covered in these two documents have long been focal points for the Chamber network, which recognises the need for progress in innovation and skills as key to sustainable economic growth. During the dinner, Director General Shevaun Haviland updated on the network’s broader focus at a UK level, which included the digital revolution, talent and skills, green innovation, global Britain and the Future of high streets

Finally, it was heartening that Ivan McKee was fully engaged in the discussion around a comprehensive industrial strategy for Scotland. He emphasised the need for stability as the “final ingredient” for success, aligning strongly with the Chamber's view that a long-term perspective is key.

By fostering collaboration between policy-makers, industry leaders, and the Chamber network, Scotland can strive towards sustainable success by implementing robust strategies and initiatives.

Liz McAreavey, Chief Executive, Edinburgh Chamber of Commerce