The Scottish Chambers of Commerce Annual Business Address 2024 once again cemented its reputation as one of the most significant events of Scotland’s business calendar. The much-anticipated gathering brought together over 600 key figures, including leading entrepreneurs, renowned personalities and senior politicians from Scotland, the UK and beyond.

Sponsored by SSE Energy Solutions, the event celebrated the vibrant spirit of Scottish business and innovation, while highlighting the incredible accomplishments of the Scottish Chambers of Commerce Network. It was a night that honoured success, inspired collaboration and showcased the strength of Scotland’s business community.

The evening’s agenda featured an impressive lineup of speakers, each delivering unique insights and sharing compelling stories which captivated all. Among the standout speakers were:

• Stephen Leckie, President, Scottish Chambers of Commerce
• John Swinney MSP, First Minister of Scotland
• Nikki Flanders, Managing Director, SSE Energy Solutions GB & Ireland
• Dr Diane Gutiw, Vice President, Global AI Research Centre at CGI
• Mike Soutar, Founder of Shortlist Media, Media Mogul and on-screen Interviewer for The Apprentice
• Rowena Bird, Co-founder & Product Inventor at LUSH
• Owen Wyatt, Chief Growth Officer at DC Thomson
• Dr Liz Cameron CBE, Director & Chief Executive, Scottish Chambers of Commerce.

Opening the evening Stephen Leckie, President of the Scottish Chambers of Commerce, “This gathering highlights the importance of collaboration between government, business, and our communities. A collaboration which drives Scotland’s economic growth and prosperity. Your presence today underscores the shared commitment to fostering a thriving business environment.

I’m delighted that tonight is our biggest-ever event with the widest possible representation of the Chambers of Commerce Network – from the Scottish Borders to the Highlands.

The past few years have tested the resilience of every business and individual across Scotland. But resilience is not just about weathering storms. It’s about learning, growing, and ensuring our foundations are stronger for the future. Businesses across Scotland have embraced change, from adopting new technologies to pivoting towards sustainability. These are not just survival strategies; they are investments in a more dynamic, competitive future.

Increasing energy costs, higher tax burdens, stretched consumers, new government regulations– this is a lot for us to manage and absorb.

Inevitably, we have to turn our attention to the levers that are in our control such as increasing prices, reducing operating hours, pause on hiring and freeze on investment.  These all have the risk of hitting consumer spending power and our ability to create jobs.

Ultimately, the strength of our economy depends on thriving businesses not just resilient businesses. Every business in this room, and beyond, has the ambition to grow, do better, make more money, reinvest more.

Scotland has a rich tradition of innovation, from the industrial revolution to today’s cutting-edge work in renewable energy, life sciences, and fintech. To harness this potential, we must foster an environment that rewards entrepreneurship and investment.

That’s why, where and how we choose to invest is a critical marker for our future growth.

We need to prioritise regional and sectoral investment to ensure that opportunities are spread across Scotland—from the thriving hubs of Glasgow and Edinburgh to the vibrant economies of our rural and island communities. Investment in infrastructure, digital connectivity, and skills development will ensure Scotland remains a destination of choice for global business.

Government policies are critical to creating the conditions for growth. Businesses need certainty, clarity, and collaboration.

This means a renewed focus on tax reform to incentivise innovation, a planning system that enables swift development, and support for key sectors like renewable energy, tourism, and manufacturing. Government must also take bold steps to address the skills gap, working closely with businesses and educators to ensure we’re equipping people with the tools they need for the future economy and empowering our agencies such as Skills Development Scotland to respond to business demand.

None of this can be achieved in isolation. The relationship between business and government must be a partnership. Businesses are the engine of the economy, creating jobs, wealth, and opportunities. Governments have the tools to unlock potential—through policy, investment, and support.

By working together, we can ensure Scotland remains a world leader in innovation, a magnet for investment, and a model of sustainable growth.

As we look ahead, I am confident in the strength and ingenuity of Scotland’s business community. Together, I know we have the vision, talent, and determination to turn challenges into opportunities.”

The Scottish Chambers of Commerce also had the pleasure of being joined by John Swinney MSP, First Minister of Scotland who commented: “The importance of Government working in partnership with business is a welcomed theme for me to reinforce in what I say to you tonight. At the heart of any government will be its policy agenda, I have set out the policy agenda for Government will be focused on four principal themes; the eradication of child poverty, transforming the economy to deal with net zero, ensuring sustainable public services and growing the economy.

I don’t view these as unconnected or compartmentalised themes, these are absolute interlinked themes as we cannot achieve the eradication of child poverty, we cannot deliver sustainable public services, we cannot support the transition to net zero, unless we have got a fundamentally strong, growing and dynamic economy.

I am committed as First Minister to making sure that the government takes the necessary steps to ensure that is the case, but we will be greatly strengthened if we do that in an atmosphere of partnership and engagement with business to ensure the perspectives and the aspirations of the business community are brought very much into the heart of government.

The government is focused intently on ensuring we create the conditions for your success.”

The Scottish Chambers of Commerce was honoured to host two exceptional keynote speakers at this year’s event. Mike Soutar, renowned entrepreneur, media mogul and on-screen interviewer for The Apprentice and Rowena Bird, co-founder and product inventor of the globally acclaimed LUSH shared their invaluable insights from their impressive careers. Their engaging presentations captivated the audience leaving a lasting impression, providing inspiration and fresh perspectives to all who attended.

Mike Soutar engaged the audience with his inspiring business journey, starting his career at just 17 with DC Thomson, later founding Shortlist Media in 2007 – a venture that quickly became one of the UK’s fastest growing private businesses. He shared his knowledge with the audience providing five practical suggestions for how your business can embrace opportunity:

1. Before you cut costs, cut team meetings

Team meetings are a luxury in tough times. Think of them as artisan chocolates: one a day is fine.

My top tips? Do stand-up meetings in person or, if they’re virtual, use the timer clock on Zoom. Then, use the time you’ve won back to meet customers or focus on revenue generation.

Liberate people from reporting and get them doing business. Encourage members of your team to opt out of any internal meetings they don’t find useful. You’ll soon see what and who adds value to your organisation.

And you will personally be freed up to become more productive too.

2. Get cost-smart

Cutting the small stuff can damage team morale and customer optimism. Smart leaders rank costs largest to smallest, then start at the top. It’s often just as time-consuming to get your largest supplier to cut charges by 10% as it is your smallest – but the impact is much greater.

And make cost-cutting someone’s day job if you can. Check in with them every single day.

1. Figure out if you are an insurgent or an incumbent

There are only two viable positions for companies coming out of an economic downturn: the established incumbents and the hungry insurgents.

1. 1. Incumbents have a lot to defend. If you’re an incumbent, use your strength to offer long-term deals at competitive prices. Hold salaries steady but offer attractive LTIPs, focus on what you stand for, and consider acquiring in your core areas.

1. 1. Insurgents have nothing to lose. If you’re an insurgent, go all out. Move fast, introduce fresh ideas, and go the extra mile with every customer, every time.

1. Innovate constantly

No matter what your business does, your customers will always welcome novelty.

So ask yourself: what’s your new idea? Your fresh perspective? Your added-value service or product? Brainstorm several ideas and schedule them over the next year.

In times of economic squeeze, everyone is on the lookout for partners and suppliers who can bring inventive new solutions to deep-rooted problems. Continual innovation helps you retain clients and attract new ones.

1. Forge new partnerships

In difficult times, other companies are far more open to collaborations. It makes sense: the prize might be smaller, but it’s easier to win a share when you team up.

My advice is to find partners with similar characteristics. Start-ups almost always work best with other start-ups. The same goes for big players.
Make it a marriage of equals. Like a Hollywood wedding, both of you have as much to gain or lose.

Rowena Bird shared the remarkable journey of LUSH, from its humble beginnings as the “Cosmetic Warriors from the Temple of Temptation” and the opening of their first store in Poole in 1995, to becoming a global success story with over 850 stores across 52 countries, employing around 17,000 worldwide. Rowena shared the valuable lessons learned along the way: “Trademarks are super important. We have over 900 trademarks in 103 countries. If you are thinking you might do business abroad, trademark your business name and product range names or you could find someone else is using your own brand name or trading off.

In 2014 we won a court case against Amazon, for infringing our trademark. Never be afraid of the bullies when you are in the right.

We pay the real living wage, our staff are the key to our success and work hard. They are the best investment we can make.

Thinking about the future of Lush in 2017 we created the Lush Employee Benefit Trust. We want the company to be owned by the staff. We had seen what happened to the staff of the Body Shop when it sold to L’Oréal, they were distraught, they felt they had been sold too and to make matters worse to one of the largest animal testing companies in the world. We never want that to be the fate of our people.

We listen to our customers. We have a lot of intense fans, they are not afraid to give us tough love and tell us what they think.  For example, we tweaked our henna formula recently, however our regular users fed back that they didn’t like it as much – so we changed it back!”

Closing her speech with a heartfelt message: “So on behalf of my fellow founders, I would just like to say, thank you very much, and if you are running or starting your own business, I hope you have as much fun as we do, consider your team carefully and you too can leave the world Lusher than you found it.”

Closing off the speeches for the evening, Dr Liz Cameron CBE, Director & Chief Executive, Scottish Chambers of Commerce said: “I believe a thriving Scotland is within reach. People and passion make this happen. Every business in this room knows that our people are our greatest assets. We know that Government gets this too. That’s why we fully back and support our pro-business skills agency – Skills Development Scotland – who champion and understand the needs of business.

So, as we leave here tonight, let us do so with optimism and determination. We are not just participants in Scotland’s economy; we are all its architects.

Together, I know we will build a brighter future for Scotland.”

The Scottish Chambers of Commerce would like to thank our amazing partners: SSE Energy Solutions, CGI, E-FWD/DC Thomson, LNER, Drax, SDS, Heathrow and Lumo for their support which made this event possible and helped us shine a spotlight on the power of Scottish business.

A special thank you to our event partners: LUSH, Launch Digital, Lussa Gin, Speyburn/International Beverage, Ochil Fudge and Ross’s of Edinburgh for their generous gifts and support, their contributions made this event even more special.

For partnership opportunities or to book your place at our 2025 Annual Business Address contact ro***************@******************rg.uk​