Business
Business Profile
Once known for the massive shipbuilding yards on the banks of the Clyde and its giant locomotive works, Glasgow was one of the engines of the industrial revolution. Today, however, it is spearheading an altogether different revolution, with increasing strengths in the IT and service sectors. Currently, 84% of the city’s working population is employed in service activities, with 9% in the manufacturing sector (nearly half of which is in engineering) and 7% in construction. Glasgow is generally recognised as the Britain’s call-centre capital and is developing an ever stronger profile in areas of high technology, accounting services, technology-based financial operations and scientific and technological research – centred around the West of Scotland Science Park.
A growing number of Blue Chip companies are based in the city, including British Telecom, National Australian Group, Royal Bank of Scotland, Scottish Mutual Assurance, Scottish Power, JP Morgan and Barclay Stockbrokers. The city is also home to the head offices and studios of BBC Scotland, Scottish Television and Channel 4’s ‘Nations and Regions’ office.
Glasgow is the commercial, retail, leisure and educational centre for half of Scotland’s population. The city’s GDP was 10.2 billion in 1998. The city has a resident labour force of around 266,200 people. Unemployment was 11.6% in November 2001 (considerably higher than the Scottish average of 6.6%), however, the non-participation rate was closer to 11%. The workforce is increasingly multi-lingual and includes a high number of university graduates.
The city’s central business district falls within the G1 and G2 post codes – around West George Street, St Vincent Street and Bothwell Street. There are also a number of business parks on the outskirts of the city. Glasgow has one of the most advanced fibre-optic telecommunications networks in Europe and ISDN connections are readily available.
Business Etiquette
Business travellers to Glasgow should find no surprises in the way in which business is carried out. The atmosphere is a little more relaxed than in cities such as London, although normal standards of business attire apply (suits, with ties for men) and punctuality is important. Most companies operate during standard business hours of Monday-Friday 0900-1700.
Clients are usually well entertained by their Glasgow hosts, most likely taken to lunch in a restaurant or pub – depending on the formality of the business meeting – or to a restaurant in the evening. It is not usual for clients to be invited to one’s home. If this is the case, however, visitors should take a gift of flowers, wine or whisky.
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Business