Capitalview Edinburgh businesses can help guarantee young people a bright future In 2010, 500 young people left school in Edinburgh with no job and no further education to pursue. Another 500 followed in 2011. I believe the business community needs to play a bigger role in stopping this trend and tap into the value and talent that our young people can offer. The Edinburgh Guarantee scheme that Edinburgh City Council runs is the kind of initiative that can help achieve this. It gives many of the Capital’s school leavers their first taste of the world of work, and throughout 2012 I’ve seen first-hand just how rewarding it can be for all involved. I know that in this prolonged climate of fragile economic growth, hiring just one extra person is a big decision. We need to work together and help others understand more clearly how giving young people their first experience of work can be as rewarding for the employer as it is for the individual. It’s a big focus for our company in 2013, especially among small and medium-sized businesses, and we have one of our customer services managers on secondment at the Council to help support this work. Our second group of Guarantee interns are currently working across our sites in
Edinburgh and we’ve committed to a third and fourth intake this year. What I’ve seen in all these young people so far has been their drive, their talent and the difference they bring to the workplace. It’s been particularly refreshing to see the confidence they’ve developed too, in the way they work and communicate. With the right support, talent brings fresh perspectives and added value to our business. They’ve also created a real buzz in our offices. I believe that Edinburgh businesses have a responsibility to show the city’s young people what’s possible. Real long-term opportunities and some they wouldn’t have ever thought they’d get from certain industries. Financial services is a great example. Of course, it takes the right attitude to make the most of these opportunities, and it’s certainly something I’ve seen from our Guarantee interns. They’re now making big strides in their careers that, without the programme, several of them might have thought would never come. Can we make 2013 a year when youth employment in Edinburgh makes big strides of its own? I think the signs are already pointing in the right direction.
Service group secures finance deal as it seeks to expand Edinburgh-based Fountain Court Group has appointed HSBC as its sole banking partner, following the agreement of a multi-million pound deal which will enable the business to significantly expand its operations in the capital. The serviced apartment provider, which has recorded year on year growth, has secured a £15m borrowing facility from HSBC, marking one of the largest transaction values arranged by the bank’s commercial division in Scotland.
The Fountain Court Group was founded in 1998 to offer leisure and corporate clients a range of fully equipped apartments in prime locations across Edinburgh. Now employing 60 staff, the company has 180 apartments within its portfolio and reported a turnover of £4 million in 2011. Peter Whitelaw, Director at The Fountain Court Group, said: “We believe the demand for serviced apartments will continue to grow and we are focusing on securing other locations in Edinburgh and other cities in the UK.
Sandy Begbie
Group Operations Officer, Standard Life
“It was crucial that we chose a banking partner that could support our long term business plans.” Colin More, Area Commercial Director for HSBC in Scotland, said: “The Fountain Court Group is exactly the type of business we’re seeking to support, and we are delighted to be providing them with full banking facilities and funding. Their business model has been hugely successful in Edinburgh, with a great demand from both leisure and corporate clients all year round.” The provision of HSBC’s banking facilities was supported by national accountancy firm PKF. Reference Point Advisory worked alongside Fountain Court to secure a successful outcome for all parties.
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