Meeting of the Parliament 04 June 2025
Entrepreneurs and innovators are the catalysts of growth that shape our economy. From the moment that I first entered Government, I have championed that agenda. I believe in a future in which Scotland reclaims its position as a global leader in innovation, and in which entrepreneurs do not just imagine a better Scotland but have the tools, support and investment necessary to build it.
Scaling firms have a profound economic impact and significantly outperform the broader economy. They are 40 per cent more productive than standard small and medium-sized enterprises and corporates, they pay higher wages, and they are responsible for the majority of net job creation. Remarkably, despite accounting for less than 1 per cent of businesses in the United Kingdom, they contribute more than 50 per cent of total SME turnover, amounting to £1.2 trillion.
I am proud to say that the value of our start-up community in Scotland goes beyond what can be measured by hard economic analysis. Many of our most promising and imaginative companies are working on problems of global significance such as the climate crisis, food security and drug discovery, and those firms are dispelling the myth that growth and wellbeing are contradictory economic principles.