Scotland has long been famous for it’s famous inventions, sports and exports. For a small country there is a lot to be said about Scotland’s reputation on a Global scale. Scotland is responsible for inventions including the television, telephone and steam engine. Not only that but some well loved sport including modern football, golf and rugby were all born in Scotland.
Scotland is beneficial to live in for many reasons and one of those is also that it can be a prosperous place to set up a business. The list for the top 500 businesses in Scotland 2017 has been released and has highlighted how some companies can rise to success in Scotland. The list was based on a number of factors including turnover, profit, number of employees and the profit per employee. Here are top 5 Scottish companies 2017.
SSE
Scottish & Southern Energy were ranked as the number one in S
cotland, with an annual turnover of 28,780.30 million and a profit of 593.30 million. SSE is a power giant in Scotland, based in Perth. The company is involved in the creation and supply of electricity and gas to households all over the UK and Ireland. The company is one of 6 big competitors in the UK energy market. They are the second largest supplier of electricity and gas in the UK but are the biggest supplier of renewable energy in the United Kingdom.
Bank of Scotland
The Bank of Scotland made it to the second position of the top 500 companies in Scotland. They had an annual turnover of 7,285 million and a profit of 2,653 million. The Royal Bank of Scotland making it into the top 3 was a major change in the list as they climbed all the way from the 287th position to number two which was by far the biggest rank climb in this years list. This is largely due to the fact they made a pre tax profit of £2.64bn compared to a loss of £8.2bn last year.
Scottish Power
had an annual turnover of 6,590.40 million and a profit of 704,90 million, this was over 100 million more than the previous year. Scottish Power are an integrated energy company which are based in Glasgow. The company supplies gas and electricity to homes throughout the UK and they also own a company in the US called PPM Energy. Since forming in 1990 the company has grown strength on strength ever since and is included in the ‘Big 6’ energy companies in the UK.
Standard Life
Standard Life has previously held onto the top spot but was knocked down to fourth place and replaced with SSE. Standard Life had an annual turnover of 1,724 million and profit of 415 million, there wasn’t a significant drop in profits which led to dropping to fourth place, competitors just had a higher turnover and profit. Standard Life are an investment company based in Edinburgh which operates around the world.
AEGON UK
AEGON UK ranked fifth, based on a turnover of 4,134 million and profit of 160 million. The company provides insurance, pensions and assest management services. They have businesses all over the world, in over 25 different countries and they have over 2 million customers in the UK itself.