“Collaboration and hope” and an honest conversation about the challenges facing businesses were at the heart of the inaugural Perth and Kinross Economic Summit, which also saw the announcement of £500,000 of investment for talent and skills.
Taking place at Perth Concert Hall, a series of speakers including First Minister, John Swinney and Susan Campbell, Director of Market Creation (Place) at Scottish National Investment Bank, addressed 300 senior leaders from across public, private and third sectors, education and skills.
Councillor Eric Drysdale, Council Leader, started the event on a positive note, when he used his opening remarks to announce an intention to seek Council approval for a £250,000 Talent and Skills Co-Investment Fund targeting young people, and invited partners to join that commitment.
The invitation was quickly answered when Martin Pibworth, CEO of SSE plc, used his follow-on speech to announce a further £250,000 from the energy giant for skills development across the region.
The event promised an honest and open discussion on the challenges holding business back, and this was spearheaded by the first panel, where topics raised included ever-increasing overheads, affordability around city centre commercial space, global policy such trading tariffs, commercial rates for new business, and a shift in consumer behaviour that has changed how High Streets are used.
The findings, alongside action ideas emerging from roundtable discussions, will now be considered with partners as part of the follow-up to the Summit. The focus will be on where collective action can make a practical difference, while being open about issues that require wider national or regulatory change.
Two live polls allowed participating businesses to have their say directly.
The first of these questions, “what are the biggest barriers to business growth in Perth and Kinross right now?” showed rising costs and cost of doing business as the main concern with 48% of the vote, followed by recruitment and skills at 13% and regulation and bureaucracy at 11%.
The second question, “where should we collectively focus our efforts to unlock future economic growth in Perth and Kinross?” saw a tie for the top spot with business costs and resilience and collaboration between business and the public sector receiving 25% of the vote each.
The second panel opened the conversation around skills with experts from education, third sector and industry discussing how collaborative working could be best harnessed to prepare not only the workforce of the future, but to reskill and support those already in employment.
As well as announcing the Talent and Skills Co-Investment Fund, Councillor Drysdale set out a bold vision for the region’s economic future, posing a defining question to delegates: what kind of economy do we want to build for Perth and Kinross over the next twenty years?
Leaning into the Summit’s key objective, he reinforced the point that success cannot be delivered by the public or private sector alone before also announcing a Perth and Kinross Social Value Charter, aligning investment behind social as well as economic outcomes.
Commenting at the event he said, “This charter will establish a shared commitment to maximise the wider benefits arising from investment and business across the area; help us align public and private investment behind our people and common outcomes; and reflect the values and ambitions of Perth and Kinross, for our people and for our places.”
After announcing the 15-24 Talent and Skills and Investment Initiative Councillor Drysdale also extended an invitation and challenge to those in the room: “I am calling on government-funded major public sector anchor institutions, our private sector employers, our developers, our investors, our education partners and the wider business community to join us.
“Together, we can create a shared investment platform that supports young people, supports communities, strengthens businesses and builds the workforce our economy requires.”
