Start Business in Glasgow & Here is Why!

Hello everyone, in today's post I am going to share details about starting "Business in Glasgow", I will talking at length about business environment in Glasgow, important things to consider while starting business in this cool city.

Plus I will also share most thriving business sectors, niches in Glasgow with their earning potential which may help you in deciding which business you should get into.

Although I am recommending all these businesses still you may need to do thorough market research and this article will act as guide.

Before going for the main topic of this article, here is something relevant that you guys might be interested in, Starting Business in Scotland (the easy way), this article provides all the details, steps on setting up your business in Scotland.

So do get through it, it will definitely help you in getting things started.

Okay now let's get back to the main topic of this article.

Business Environment in Glasgow:

Glasgow, Scotland - a city that's known for its friendly locals, stunning architecture, and deep-fried everything. But did you know that it's also a hub for business and entrepreneurship? 

That's right, folks. Glasgow City Region (GCR) is Scotland's economic hub, as well as the fourth largest city region in the UK. The region boasts an extensive rail and road infrastructure, as well as an international airport, and accounts for almost one-third of Scotland's jobs, businesses, and economic output.

Glasgow is not just a place to have a good time, but it's also a place to build and grow a business.

First off, let's talk about the numbers. Glasgow is the largest city in Scotland and the fourth-largest in the United Kingdom, with a population of over 1,650,000 people. 

And with over 92,000 businesses operating in the city, it's clear that Glasgow is a hotspot for entrepreneurship.

But it's not just quantity that sets Glasgow's business environment apart. It's also the quality of the businesses themselves. 

Glasgow is home to some of the most innovative and exciting companies in the UK, ranging from tech startups to creative agencies. 

And let's not forget about the city's thriving financial sector, which has attracted major players like Aon, Morgan Stanley, BNP Paribas, and Barclays.

Of course, it's not all business all the time in Glasgow. The city has a rich history and culture that's impossible to ignore. 

From the world-renowned art collections at the Kelvingrove Art Gallery and Museum to the iconic Glasgow Cathedral, there's no shortage of things to see and do in the city. And let's not forget about the food – haggis, anyone?

But back to business. One of the most interesting things about Glasgow's business environment is the way that it combines the old with the new. While the city has a long and storied history, it's also embraced innovation and technology in a big way. 

For example, the Glasgow City Innovation District (GCID) is a partnership between the public and private sectors that aims to promote collaboration and drive innovation in the city. 

With a focus on sectors like health, life sciences, and tech, the GCID is helping to position Glasgow as a leader in the knowledge economy.

And speaking of innovation, let's not forget about the city's thriving startup scene. Glasgow has been named on among the UK's Entrepreneurial Cities of the Year, and for good reason. 

With a supportive ecosystem that includes organizations like Entrepreneurial Scotland and the Scottish Enterprise, Glasgow is a great place to launch a new venture. 

And with companies like MindMate, a healthtech startup that's working to improve the lives of people with dementia, and Castlight Financial, a fintech startup that's making financial advice more accessible, Glasgow's startup scene is making a real difference in the world.

And again according to another report of 2022, Glasgow has been identified as the top city for small businesses to operate from, while London did not make it to the top 25. 

The study took into account factors such as average salaries, commuting times, property prices, and employment opportunities, and highlighted Manchester and Derby as other favorable locations for small and medium-sized enterprises (SMEs). 

Iwoca, a small business lender, noted that Glasgow scored well due to its short average commuting time and the growth of small businesses in the area in recent times.

But it's not just serious business in Glasgow – there's also plenty of room for a bit of fun. Take, for example, the annual World Pipe Band Championships, which attracts thousands of visitors to the city each year. 

Or the Glasgow Film Festival, which brings together movie lovers from around the world for 12 days of film screenings, talks, and events. And let's not forget about the Glasgow International Comedy Festival, which features some of the biggest names in comedy alongside up-and-coming local talent.

And speaking of humor, let's take a moment to appreciate Glasgow's famous sense of humor.

Glaswegians are known for their wit, sarcasm, and irreverence, and this playful spirit is evident in the city's business culture as well. 

From quirky startups to established companies with a cheeky sense of humor, Glasgow's business scene is anything but stuffy.

For example, one local company that embodies this spirit of humor is BrewDog, a craft beer company that was founded in nearby Aberdeenshire. 

Despite its rural origins, BrewDog has become a global sensation, thanks in part to its cheeky marketing campaigns and irreverent attitude. 

The company has even taken a playful jab at the traditional business world, offering "The End of History," a beer that comes in a taxidermied squirrel. 

Yes, you read that right (look up!). 

But BrewDog's humor isn't just limited to its products. 

The company also has a reputation for taking a stand on social and political issues, whether it's supporting different social movements or calling out the unfair treatment of small businesses by big corporations.

Another local company with a sense of humor (although its a humor for a noble cause) is Social Bite, a sandwich chain that's on a mission to end homelessness in Scotland. 

Not only does Social Bite donate all of its profits to charity, but it also employs people who have experienced homelessness themselves. 

And let's not forget about the company's famous "Suspended Coffee" program, which allows customers to buy a hot drink or food for someone in need. 

With its quirky branding and playful social media presence, Social Bite is proof that a business can be both profitable and socially responsible.

Summing it up, Glasgow's business environment is thriving, innovative, and not afraid to have a bit of fun. With a supportive ecosystem for startups, a thriving financial sector, and a culture that values both tradition and innovation, Glasgow is a great place to start or grow a business. 

And with a sense of humor that's as irreverent as it is charming, Glasgow's business scene is anything but dull. So whether you're in the mood for a deep-fried Mars bar or a world-changing startup, Glasgow has got you covered.

Okay enough of city introduction. Now let's talk about things you should carefully consider while starting business in Glasgow.

Starting Business in Glasgow: Important Things to Consider!

Here are some important things to consider when starting a business in Glasgow, Scotland:

    Legal requirements: Make sure you research and comply with all the legal requirements for starting a business in Glasgow. This includes registering your company, obtaining necessary licenses and permits, and ensuring compliance with relevant tax and employment laws.

    Market research: Conduct thorough market research to understand your target audience, competitors, and industry trends. This will help you develop a business plan that meets the needs of your target market and sets you apart from the competition.

    Funding: Determine the amount of funding you need to start and sustain your business. Research and apply for grants, loans, and other financing options that can help you fund your business in the early stages.

    Location: Choose a location that is accessible, visible, and convenient for your customers and employees. Glasgow has a variety of business districts and industrial estates that offer different benefits and amenities, so research the options to find the best fit for your business.

    Workforce: Glasgow has a highly skilled workforce with a diverse range of talents and experiences. Consider the skills and expertise you need for your business and research the local talent pool to find the right employees.

    Networking: Glasgow has a thriving business community with a variety of networking opportunities. Attend local business events and join industry-specific organizations to connect with other professionals, learn from their experiences, and grow your business.

    Digital presence: In today's digital age, it's crucial to have a strong online presence. Develop a website, social media profiles, and other digital marketing strategies that can help you reach and engage with your target audience.

    Cultural differences: Glasgow has a unique cultural identity, and it's important to be aware of and respectful of these differences when starting and running a business. Take the time to understand the local culture and customs to build strong relationships with customers, employees, and partners.

    Sustainability: Glasgow has a strong commitment to sustainability, and it's important to consider the environmental impact of your business. Incorporate sustainable practices and technologies in your operations to reduce your carbon footprint and contribute to a healthier planet.

Overall, starting a business in Glasgow requires careful planning, research, and consideration of the local market and community. But with the right strategies, resources, and support, Glasgow can be a great place to launch and grow a successful business.

Okay now let's talk about the type of businesses that are doing great in Glasgow and perhaps you should also start your entrepreneurial journey by doing similar, after do what the Romans do, right!

Launch Your Business Career in these Businesses in Glasgow:

There are several types of businesses that are doing well in Glasgow, Scotland. Here are some examples:

    Creative and Cultural Industries: Glasgow has a thriving creative and cultural scene, with a wide range of businesses involved in the arts, design, fashion, and media. 

This sector has been growing rapidly in recent years, with Glasgow becoming a hub for creative and digital industries. 

The city hosts several major events and festivals throughout the year, including the Glasgow Film Festival and the Celtic Connections music festival, which provide a boost to local businesses.

Glasgow city has a rich cultural scene, with flourishing music, theater, and visual art communities, and the highest density of creative enterprises in Scotland.

    Food and Drink: Glasgow is known for its rich culinary scene, with a variety of restaurants, cafes, and bars serving up delicious food and drinks. 

From traditional Scottish cuisine to international flavors, there's something for everyone in Glasgow. 

In recent years, there has been a growing trend towards locally-sourced and sustainable food, which has led to an increase in small-scale food businesses such as microbreweries and independent coffee shops.

Scotland's food and beverage industry is one of the biggest sectors, and it has experienced significant growth over the past decade. There are currently 1,185 food and beverage manufacturing companies in the country, with a total turnover of £10.4 billion. 

This accounts for 30% of the entire manufacturing sector in Scotland.

    Healthcare and Life Sciences: Glasgow is home to several world-renowned universities and research institutions, which has led to the growth of a strong healthcare and life sciences sector. This sector includes pharmaceuticals, medical technology, and biotechnology companies, as well as research and development centers. 

The city's close proximity to Edinburgh, another major hub for life sciences, has also contributed to the growth of this sector.

    Tourism and Hospitality: Glasgow is a popular tourist destination, attracting visitors from around the world to its historic landmarks, cultural events, and stunning architecture. The city has a thriving hospitality sector, with a wide range of accommodation options, from budget hostels to luxury hotels. 

In recent years, there has been an increase in the number of small, boutique hotels and vacation rentals, as well as unique and experiential tourism businesses such as guided walking tours and food tastings.

Glasgow's tourism industry saw a boost in 2019, with a total of 2.5 million visitors from both domestic and international locations. This increase in tourism generated a substantial £774 million for the city's economy. In comparison to the previous year, there was an 8% increase in the number of visitors and a 17% increase in spending.

    Technology and Innovation: Glasgow has a growing technology and innovation sector, with a focus on digital and information technology, cybersecurity, and fintech. 

The city has a number of technology-focused business incubators and accelerators, as well as several co-working spaces and innovation hubs. 

For instance, Glasgow is a significant international hub for marine technology research and development, particularly in the field of shipbuilding. 

The University of Strathclyde's faculty of Naval Architecture, Ocean and Marine Engineering is a world-renowned center for marine technology research, offering cutting-edge advancements in the field.

Glasgow's close proximity to London and other major European cities also provides opportunities for international expansion and collaboration.

Overall, Glasgow has a diverse and thriving business scene, with opportunities for entrepreneurs in a variety of industries. The city's supportive ecosystem for startups, skilled workforce, and cultural richness make it an ideal place to start or grow a business.

Okay now let's discuss each of these business sectors earning potential, so that it becomes easy for you to decide to which business sector you want to go in (although I would still recommend thorough research on your own).

Business in Glasgow: Earning Potential

It's difficult to provide exact revenue and net profit figures for each of the business sectors mentioned as they can vary greatly based on the specific business, its size, and other factors. However, here are some statistics and information that may help give you an idea of the earning potential in each sector:

    Creative and Cultural Industries: According to a report by Glasgow City Council, the creative and cultural industries in Glasgow contribute over £800 million annually to the city's economy. This sector also employs around 20,000 people in Glasgow. Earnings for individual businesses can vary greatly, but there is certainly potential for growth in this sector.

In the UK, Scotland ranks third in terms of spending on recreation and culture. This category encompasses a wide range of household expenses, such as purchases of TV, computer, and audio equipment, sports equipment, newspapers, books, pets, gardening, and package holidays.

    Food and Drink: Scotland's economy greatly benefits from the food and drink industry, which contributed £5.6 billion to the Scottish economy in 2018 through its gross value added (GVA).The food and drink industry provides employment to approximately 122,000 individuals across 17,500 businesses, predominantly located in rural and remote areas of Scotland.

 While there is no specific data available for Glasgow alone, there are certainly many successful food and drink businesses in the city. According to a report by Deloitte, the Scottish craft beer industry is growing rapidly and is expected to reach a value of £1 billion by 2030.

    Healthcare and Life Sciences: The healthcare and life sciences sector in Scotland generates around £5 billion in revenue annually, and employs around 40,000 people. There are several major companies in this sector based in Glasgow, including pharmaceutical giant GlaxoSmithKline. The Scottish Government has also invested heavily in research and development in this area, with the aim of making Scotland a world leader in life sciences.

    Tourism and Hospitality: The tourism and hospitality sector is a major contributor to Glasgow's economy, generating around £1.4 billion annually. According to a report by VisitScotland, the number of international visitors to Glasgow increased by 36% between 2014 and 2018, highlighting the growth potential in this sector. However, the COVID-19 pandemic has had a significant impact on the tourism industry, and it remains to be seen how quickly it will recover.

    Technology and Innovation: The technology and innovation sector is a growing area of Glasgow's economy. According to a report by Tech Nation, Glasgow has the highest number of tech startups outside of London, and the city's digital tech sector is worth over £1 billion. The Scottish Government has also made significant investments in this sector, with the aim of creating a world-class digital economy in Scotland.

Considering these facts on can safely say that the earning potential in each sector varies, but there are certainly opportunities for growth and success in each of them. It's important to note that success depends on a variety of factors, including the specific business, its business model, and the local market conditions.

Over to you guys!