Last week I had the privilege of joining some of Scotland’s sharpest business minds for a roundtable on what it really takes to scale. The conversation was an honest and direct take on where we are as businesses, dealing with very similar struggles and scenarios. Stephen Emerson of Insider Media hosted at CT Accountants in Edinburgh.
Three themes dominated: rising costs, the real limits of AI, and the structural gaps that hold back good businesses.
“Costs are the biggest issue at the moment. Before you even start trading, you’re dealing with a huge increase in your staff bill. You take it on and look for efficiencies elsewhere. That’s where a lot of businesses are right now.” Adam Clark, Group Director, Arnold Clark
The cost environment is relentless. Between wage increases, energy and supply chain pressures, margins are being squeezed from every direction. Ryan Bowman of Bow Hospitality put it plainly, businesses are working harder for the same return. The ones navigating this best are not finding magic solutions. They are the ones with discipline, clear focus and the resilience to keep going.
“There’s a lot of focus on AI just now, but in many cases the issue isn’t the technology. It’s the operating model. Businesses are trying to adopt AI without having the right processes or data in place.” Paul Duffy, Managing Director, Zudu
On AI, the room was optimistic but grounded. Jon Quick highlighted how automation is already transforming manufacturing, cutting four-person processes down to one. Jim Hall described genuine gains in healthcare through AI-assisted diagnostics. But the consensus was clear: AI is a tool, not a strategy. It rewards businesses with strong foundations and punishes those without them.
“A lot of owner-managed businesses get caught up in the day-to-day and don’t step back to ask where they want to be in five years. Without that, it’s very difficult to grow or think about an exit.” Gemma Hamilton, Head of Origination, BGF
Perhaps the most consistent thread was that Scotland has strong businesses, but too many stop short of their potential. The support structures for scaling still have real room to improve.
The opportunity is there. But it requires clarity of vision, the right people around you, and the discipline to build solid foundations before you actually need them.
It was a pleasure to sit with fellow business leaders and owner managed business to discuss this.
