The new Scottish Government will be good for Scottish business. Discuss - Essay Example

The first step is to form a Council of Economic Advisors. This council will help new-born businesses to find their niche in the market, and help them with tax payments, loans, grants and other financial schemes and delivery agencies initiated by the Government. These grants are focused on carrying out a research about new and lucrative products that could be developed so that new businesses do not find a marker block. Also, they are disbursed according to a regional strategy, in which sectors of the country are designated to these grant authorities who then work closely with the local enterprises and provide them with custom-designed support and solutions.

Along with these grants, a programme, called the Scottish Executive Expertise, Knowledge and Innovation Transfer Programme (SEEKIT) provides financial support and grants for science based projects in the public sector, so that their can be a flow of information between that sector and the enterprises, which could then benefit from the knowledge and finance to increase productivity, economy and efficiency of their businesses. Likewise, small and medium sized businesses are encouraged so that more families can invest, and their has been a reduction in the tax payments by these businesses, the taxes being based not on the Council set taxes, but on the ability of the businesses to pay them.

For the young people still undertaking their education, the Government has provided increased vocational opportunities so that along with their education, they can pursue employment services. As more people would start their own businesses, more employment opportunities would be created, and as more young citizens would start participating in the economic sector, the productivity rate of the country would boom immensely, leading to an sustained, long-term economic growth with easy and relaxed regulations for the efficient functioning of this sector.

To organise their plans and to better formulate their strategies towards the business sector, an enterprise strategy was worked out, known as A Smart, Successful Scotland (SSS). It was refreshed (Jim Wallace 2004) in 2004, and addresses the current issues and schemes related to the enterprises, highlighting the areas that require special attention, both in Scottish Enterprise and Highlands and Islands Enterprise, for a long-term economic growth.

The priorities addressed in the document can be summarised into three basic strategies: growing businesses, global connections, and skills and learning (Enterprise Strategy 2007). According to these set strategies, the enterprise networks have been re-structured and reformed, taking into account the localised challenges and