economic

• POSITIVE

  • Some families became very wealthy from the profits of goods they exported to the Empire. They used this wealth to contribute to the local community, such as by building schools and hospitals.
  • Scottish banks benefitted from the Empire. They loaned money to Scottish and foreign investors to let them develop businesses elsewhere, which made the banks huge profits. By the 1880s, no less than 40% of all Australian borrowing was from Scotland.
• POSITIVE

  • The empire helped develop Scotland's shipbuilding industry. The Clyde Bank Area became the centre of shipbuilding by 1914, shipyards were used to build ships that would transport goods to different parts of the empire.
  • Job opportunities were also created by Scotland's involvement in the Empire. Factories across Scotland used products grown overseas and goods were made in Scotland and sold elsewhere in the Empire, creating jobs.
• NEGATIVE

  • Foreign investment by Scottish entrepreneurs had a negative impact on Scotland. Margaret Donnelly, a jute mill landowner in Dundee in the 1800s, set up the first jute mills in Bengal. By 1914, Indian jute mills were making huge profits based on the very low wages paid to Indian workers, meaning employment levels in the Scottish jute industry dropped.