We can learn from these five overseas business models
This article was first printed in The Times on Friday 24 April.
There is no shortage of acrimony in the Holyrood election campaign but where is the aspiration?
Yes, there are significant challenges facing the nation. Indeed, our data paints a stark picture. On nearly every measure, business sentiment is weaker today than in 2021 and business confidence hit a five-year low in 2025.
Too often, however, when the focus is on past failure, the future is forgotten. Businesses across Scotland need the next five years to be better than the last. To achieve this, the next Scottish government must raise its ambitions. We want our policymakers to share our ultimate goal, which is to make Scotland the best place on Earth to do business.
Clearly, this cannot be achieved in the first 100 days of a new government. However, our Plan for Growth can put Scotland on a path towards this destination. Measures cover priorities routinely highlighted by our members, including the acceleration of new infrastructure, particularly housing, energy grid connections and transport links.
Other proposals include securing economic stability through greater alignment with the rest of the UK on taxation and employment policies.
But decision-makers must look beyond familiar demands. They could learn a lot by studying their peers in other parts of the world, adapting the most successful models.
Ireland established a national competitiveness council through which it embedded benchmarking on productivity, infrastructure, taxation and skills to inform government priorities and strategic investment in a way that moves beyond political cycles and prioritises growth.
New Zealand placed business networks and regional representatives at the heart of decision-making on trade. This approach helped grow its exports-to-GDP ratio from 26 per cent to 33 per cent in five years.
Scotland could also learn from Denmark, where there is cross-party support and oversight of a long-term infrastructure plan. Communities and investors are given greater confidence by this recognition that infrastructure transformation requires consistency across several parliaments, underpinned by an overarching strategy.
Portugal has addressed the impact of “brain drain” caused by one of Europe’s highest emigration rates by offering a 100 per cent income tax exemption on earnings up to €28,737.50 in the first year.
And in Singapore, the foundations for innovation were created by early investment in digital identity, AI and cybersecurity.
Whoever forms the next government, we hope they are as ambitious for Scotland as we are.
