Livingston James recently welcomed Ian Reid (CBE), Chair of Commonwealth Games Scotland and Vice-Chair of Glasgow 2026, to speak at our latest boardroom lunch, which discussed the increasing demand for finance professionals who can become community as well as business leaders. We were delighted to partner with Stuart Rose, Partner at AAB, to host a number of Scotland’s leading CFOs and Finance Directors for what proved to be a hugely enjoyable presentation and thought-provoking discussion.
Livingston James Food & Drink Round-up 2018
This year will hopefully be viewed as a success with increased outputs across most of the major food and drink groups all striving to help achieve Ambition 2030 against a backdrop of confusion with Brexit.
Export is a hot topic with £6 billion of sales outside the UK – but that shouldn’t blur the fact that for every £1 sold abroad we sell £3 in the UK. It is imperative that the market focuses on retaining the strong UK relationships and channels to market, whilst also capitalising on the growing desire abroad for quality products, enhanced by the recognition that Scottish produce is of an exceptionally high standard.
Scotland Food & Drink ensure that all the relevant industry bodies work together to achieve the best and their united efforts have ensured some really positive results. Highlights for 2018 include:
It is often forgotten how important the industry is in the more remote parts of Scotland. The agricultural and fishing industries, regional distilleries, and many artisan food producers keep whole communities employed and support the development of secondary businesses. There is a vast amount of knowledge to be shared through generations and local communities which helps preserve the skills that create the quality in the produce.
We can’t avoid Brexit. At the moment, for this sector specifically, it brings very mixed opinions. For the large whisky manufacturers it can open up markets for them and therefore potentially help their export growth; for fishing it only works if the coastal waters are protected and destructive tariffs are not introduced. The matter of labour remains uncertain. If there is a glimmer of positivity then it is probably that the European markets want our seafood, our meat and our whisky, and are unlikely to enforce punitive tariffs. We shall see as at the moment of writing, all bets are off!
So on to 2019… There is real energy about the sector – some amazing success stories; strong growth; expanding international markets; increased foreign investment and interest; and more recognition that this is a sector that must be supported, encouraged and respected.
Livingston James has been proud to be a key supporter of Scotland Food & Drink and many of the key businesses across the sector and look forward to working with many in 2019.
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