Fife payment business to showcase wares on international trade mission

Payment specialist Renovite Technologies has been selected to showcase its payments technology to Swiss and Austrian financial firms.

 

The Dunfermline business has been selected by the UK Department for International Trade (DIT) and Scottish Development International (SDI) to take part in a fintech trade mission to Vienna and Zurich later this month.

 

Taking place from January 23-24, the mission aims to stimulate business between the UK delegation and financial institutions in Switzerland and Austria.  Renovite and a select group of other Fintech companies will be meeting with banks, venture capitalists and other organisations with an interest in fintech and innovation.

 

Previous fintech missions to Switzerland led by the DIT have subsequently generated £45 million in business deals.

 

Jim Tomaney, chief operating officer at Renovite Technologies said:

 

“We are thrilled to have been selected as a delegate for the mission and look forward to showcasing how our work is enabling positive change using state-of-the-art cloud technology.

 

“It’s really a very positive sign that major financial organisations are now rising to the challenges and demands of an increasingly complex payments environment by looking to businesses that can offer the kind of agility and innovation they can’t source from traditional suppliers.”

 

Renovite Technologies, which also has offices in California and New Delhi, established its European headquarters in Dunfermline in 2017.  The UK team has grown from four to 20 since then and plans to add another ten employees – including six trainees – by the end of 2019.

 

Click for more information about the trade mission.

 

 

 

Briggs Marine Turnover up by 17%

Briggs Marine and Environmental Services is reporting a 17% increase in turnover.

 

The Burntisland-based company, which supplies a range of services throughout the marine industry, has just published its new accounts for the year ending March 2018 at Companies House, showing an annual turnover of £58 million, 17% more than the previous year.

 

Collieson Briggs, Managing Director of the Briggs Group, said: “The marketplace remains challenging, but the company has delivered a profitable performance in the year to March 2018, and in the short to medium term, I expect the company to continue delivering improved operational performance in the year 2018/19.  It is great to see that across the whole group, we continue to be successful in winning new contracts, as this further develops our presence and reputation in the marine services industry.”

 

Click to read the whole story.

 

 

University submits plans for multi-million pound development of Eden Campus

The University’s plans for transforming the former paper mill at Guardbridge into a new University campus have been lodged with Fife Council.

 

The £20 million plan for the Eden Campus will involve the sensitive restoration and refurbishment of buildings to create state-of-the-art office space, library storage, a canteen and associated parking and landscaping.  The development will also create a cafe which will be open to the public as well as to University staff.

 

The plans provide for a total office space capacity for 500 which will see 400 University staff relocate from St Andrews to the Eden Campus.  This relocation will ease pressure on office and parking space in St Andrews and release space in the town centre and North Haugh for teaching and research purposes.

 

It is anticipated that around 100 jobs will be created during the two-year construction and fitting-out phase.

 

The university has already invested £25 million in an award-winning green energy centre at the Eden Campus which pumps hot water four miles to St Andrews to heat university buildings.

 

University of St Andrews Quaestor and Factor Derek Watson said: “This is a major strategic move for the University which will provide an exceptional working environment for our staff, breathe new life in the local economy of Guardbridge and have a beneficial impact on the town of St Andrews.”

 

Click to read the full story.

 

 

 

 

Dunfermline among first winners from new lottery fund

Dunfermline is one of the first places in Scotland to win funding from a new National Lottery Fund.

 

It’s historic built environment is set to benefit from a £288,200 award from the Great Place Scheme.

 

The National Lottery’s new fund is aimed at helping towns use their unique heritage and history to create opportunities for employment, education and income generation.

 

The award-winning Dunfermline Carnegie Library and Galleries

Dunfermline’s share could lead to revigorating a building or space in the town and additional funding from Fife Council, Fife Cultural Trust, Dunfermline Carnegie Trust and Dunfermline Delivers will give the Dunfermline Heritage Partnership more than £419,000 for the scheme.

 

Councillor Helen Law, convener of Fife Council’s City of Dunfermline Area Committee said: “In terms of Scotland’s history and heritage, Dunfermline has one of the best stories to tell.  This fund will allow us to make improvements to the town which are rooted in that history.

 

“We want to build on the momentum already achieved by the award-winning Dunfermline Carnegie Library and Galleries, a building which has dramatically enhanced the abbey and historic area, while helping us to boost visitor numbers and create jobs.”

 

Click to read the full story in The Courier.

 

 

 

 

University study examines impact of Brexit on SMEs

The findings of new research carried out by the University of St Andrews on the potential impact of Brexit on Small and Medium-Sized Enterprises (SMEs) have just been announced.

 

The study, the first of its kind, analysed results from the UK Government’s Longitudinal Small Business Survey.  Following the result of the referendum, the UK government inserted a number of Brexit-related questions into the survey, enabling this analysis.

 

The research discovered that concerns about Brexit are not felt uniformly across UK SMEs, but that Brexit-related uncertainty is likely to affect larger, export-oriented firms and those operating in hi-tech and service-related industries the most.

 

Click for more information about the research and to download a copy of the study.

 

State of Economy Report predicts growth in 2018

Scotland’s economy is expected to continue to grow in 2018, despite ongoing Brexit uncertainty, with stronger global growth and an improved outlook for the oil and gas sector helping to support this growth.

 

The latest State of the Economy report published last week by Scotland’s Chief Economist also highlights:

 

  • The economy continued to grow into the second half of 2017, although at a below trend rate.
  • The Scottish labour market is performing closed to record levels in terms of employment and the rate of unemployment.
  • The outlook based on independent forecasts signals positive GDP growth for 2018 of between 0.7% and 1.4%.
  • Brexit remains the biggest uncertainty hampering further growth.

 

The State pf the Economy report is produced three times a year to provide a picture of the Scottish economy in the context of the UK and international economies.

 

Click to read the full January 2018 State of the Economy report.

 

 

 

 

Scotland’s economy grows by 0.2%

The Scottish economy grew by 0.2% during the third quarter of last year, according to the latest figures released by the Scottish Government.

 

An increase in gross domestic product (GDP) is the main indicator of economic growth in Scotland.

 

The latest GDP figures covering the period July to September 2017, show that the Scottish economy grew by 0.2% in real terms compared to the previous three months. Compared to the same period in 2016, the Scottish economy grew by 0.6%

 

Between July and September 2017, output in the Services sector grew by 0.2%, while output in Production (manufacturing, utilities and mining) was up by 1.2%.  However, Construction was down for a seventh quarter in a row, with a 2.9% fall.

 

GDP per person in Scotland was flat in real terms (0.0%) during the third quarter of 2017, compared to an increase of 0.1% in the UK a a whole.

 

A detailed analysis of the figures can be found on the Scottish Government website.

Applications invited for the 2018 Living Wage Champion Awards

The 2018 Living Wage Champion Awards are now open for applications.

 

The Awards celebrate the businesses and individuals who have made a contribution to the Living Wage movement.

 

All accredited Living Wage Employers, Recognised Service Providers and individuals who have gone above and beyond to promote the real Living Wage are invited to apply.

 

The deadline for entries is 20 February 2018 – click to see the award categories and submit your entry.

 

 

Grants of up to £100k available for waste prevention measures

A small or medium sized enterprise?  Don’t miss out on the grants available for the implementation of waste prevention measures from Zero Waste Scotland.

 

A whole range of waste prevention projects are eligible for funding from Zero Waste Scotland’s Waste Prevention Implementation Fund – from the purchase of new recycling bins to the procurement of more efficient manufacturing equipment.

 

Click for more information about the grants and how to apply.

 

 

Fife firm secures £1 million contract to supply power connectors to the UAE

Phase 3 Connectors in Glenrothes has secured a £1 million contract to provide power connectors to one of the largest electricity and water authorities in the United Arab Emirates.

 

The company, which produces industrial connectors for power generation, cable assembly and events, is hoping that winning this new contract will lead to further interest in its products in the Middle East.

 

The firm was bought out from administration by its current owners in 2015 and last year saw sales increase from £2 million to £3.3 million.

 

“Previously Phase 3 had focused solely on supplying the entertainment industry but we’ve consciously widened our reach, as any sector that requires power generation will need the connectors we produce – from hospitals to power stations, sports ground to the military,” company director Andy Glachan explained.

 

“When we first looked at buying the company we approached Business Gateway Fife to tap into its local knowledge and find out what support was available to us.  Our adviser opened a lot of doors for us.  He helped us secure 50% funding from the Fife Investment Fund to build a new website which was an instant success, providing us with a professional shop window.

 

“His input also helped us successfully apply for a £180,000 Regional Selective Assistance grant.”

 

Click to read the full story.

 

For information on the support available from Business Gateway Fife, visit www.businessgatewayfife.com or call 01592 858333.