Business growth in Scotland well ahead of UK average


Based on a report by Inform Direct using data from Companies house and the Office for National statistics (ONS) and reported in Insider magazine on the 23rd, more than 34 000 new companies were set up in Scotland in 2017. This represented growth of 5.7% as opposed to the UK average of only 4%.

This is, of course, not a one-of indicator of health in the Scottish economy. See these examples from just this year (2018):

Scottish business confidence soars to three and a half-year high

And another: Scottish business community ‘increasingly confident.’

And another one: ‘Scotland Revealed as Top Place in UK to Launch New Business’

17% increase in number of Scots planning to start a new business as Scottish economy strengthens

Also, this is another objective measure of real economic confidence and growth unlike the useless GERS and GDP estimates, favoured by our media in attempts to undermine confidence. For more on this, see:

25 of the 26 GERS income figures are estimates and not the real figures!

As for GDP, even the DAVOS elite have turned against it. See this from 2016:

‘Three leading economists and academics at Davos agree: GDP is a poor way of assessing the health of our economies and we urgently need to find a new measure. Speaking in different sessions, IMF head Christine Lagarde, Nobel Prize-winning economist Joseph Stiglitz, and MIT professor Erik Brynjolfsson stressed that as the world changes, so too should the way we measure progress. A country’s GDP is an estimate of the total value of goods and services they produce. But even when the concept was first developed back in the late 1930s, the man behind it, Simon Kuznets, warned it was not a suitable measure of a country’s economic development: “He understood that GDP is not a welfare measure, it is not a measure of how well we are all doing. It counts the things that we’re buying and selling, but it’s quite possible for GDP to go in the opposite direction of welfare.”’

Let me know if you see any sign of this report on our TV ‘news’.


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