Our business plan

What we will achieve

What we will achieve and what's important to us

Our objectives for 2021-22 are ambitious and we'll push hard to achieve them. We’ll support businesses and sectors who face ongoing challenges, as well as those who've seen the COVID-19 pandemic present opportunities. We're also changing the way we work. We'll have a growing focus on social and environmental values, which is why we’re placing our net zero ambition at the heart of our plans.

Working together to support Scotland's progress

Alongside agency partners, our performance framework will ensure we can show how we are working together to support Scotland’s progress in areas such as productivity, equality, wellbeing and sustainability in line with Scotland’s National Performance Framework and the Strategic Board’s performance framework.

Our objectives for 2021/22 are ambitious and we'll push hard to achieve them.

We know the continuing impact of the pandemic and EU exit will influence the investment decisions of new and existing businesses. Export sales have been badly hit and will take time to recover.

We've also introduced a new outcome measure, capturing CO2 savings from projects we support. We'll work with our partner agencies, SEPA and NatureScot to develop robust ways of measuring our contribution to the transition to a net zero economy.

Kanika Bansal, of MediCen Devise and University of Edinburgh with medical innovation product

Outcomes for 2021-22

  • 7,600 – 10,500 planned jobs paying at least the real living wage, including green jobs
  • £310 million - £425 million planned R&D investment by businesses/projects
  • £310 million - £360 million planned capital investment by businesses/projects
  • £190 million - £230 million growth funding raised by businesses
  • £0.8 billion - £1.1 billion planned international exports
  • 200,000 - 240,000 tonnes estimated CO2 savings by businesses/projects

Our milestones for 2021-22

Changing the way we work

Like many other businesses, we're also changing the way we work and will have a growing focus on social and environmental values as well as economic outcomes.

Helping to build an economy that creates good, sustainable jobs, that is supportive of Scotland’s drive towards net zero and that ensures more people from more places can benefit from growth is essential. This values-based approach to growing the economy is central to our plan.

New, good and green jobs

The impact of Covid-19 on the labour market has been huge, with young people, women and vulnerable groups most affected. Supporting new and existing businesses to protect and create new jobs is a priority.

We'll work with companies to make sure these are good, sustainable jobs, which support a strong, resilient labour market.

As an early adopter of Fair Work First, we're helping to ensure the jobs we support through our large grant funding are good jobs, paying at least the real living wage. We'll use what we’ve learned to strengthen our approach to help create fairer, more diverse and inclusive workplaces.

During the year we'll encourage more companies to commit to fair work practices when they work with us as grant recipients, project partners or contractors.

Fair Work First guidance from the Scottish Government.

Green jobs call 

We know many companies will need help on their net zero journey, and for some this may mean a significant business shift that might carry increased risks. Our first green
jobs call aims to help businesses to create and support jobs that improve the environment, and champion projects that align with the Scottish Government's net zero ambitions.

Read more about the green jobs calls.

 

 

 

 

Transition to a net zero emission economy

The Scottish Government has set an ambitious target to be net zero by 2045, with a number of important milestones along the way.

While such fundamental change will take time, immediate action is needed, which is why we are placing the net zero ambition at the heart of our plans.

Our Net Zero Framework commits us to an ambitious range of actions, which will be refined over time.

Wind farm

Our net zero ambitions

By ‘net zero’ we are looking beyond emissions reduction to:

  • Help businesses address climate-related economic opportunities
  • Safeguard and improve Scotland’s valuable natural capital (including biodiversity)
  • Ensure a just transition (where the benefit of net zero action is maximised in a just and fair way)
  • Scale up the adoption of circular business models, building extended life, re-use and remanufacture into design of products and services.

During 2021/22, we will be:

  • Requiring businesses and organisations we support to demonstrate their net zero commitment as a condition of our support.
  • Implementing the Scottish Government’s Vision for Trade and cease trade support for fossil fuel goods and services activities in support of Scotland’s transition to net zero emissions.
  • Introducing a new programme of funding calls to target net zero outcomes. The first call will support new green jobs and be funded through the Green Jobs Fund

Place: regional growth, national place-making

We'll get the best return on public sector investment where opportunities to grow regions not only help places and businesses, but also contribute to the growth of national and international opportunities benefiting Scotland’s economy. This will help to create globally competitive places and a stronger business base.

We'll work with regional partners to align national priorities and regional strengths. This will ensure that the economic benefits we help to create are sustainable and can be shared as widely as possible.

V & A Dundee

Build on our strengths and assets

As we develop the future economic opportunities that will drive Scotland’s international competitiveness, we'll work with partners to build on the strengths and assets of all parts of Scotland.

We'll ensure the international priorities, set out in the Inward Investment Plan, build on and link assets and activities to regions. This will bring value to those regions, as well as to Scotland as a whole.

Inward Investment Plan guidance from the Scottish Government.