Comment: This is a city that is ready to go places

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Confidence breeds confidence, they say, and there seems to be an increasing supply of it in Edinburgh right now.

The trams are finally on their way, SoCo is throwing open its doors to new businesses on the old Cowgate fire site and Caltongate may be just the start of new development in the city, with hopes high that something might finally happen with the regeneration of the St James Centre and the surrounding streets. All that not only helps to lift the Capital’s economy in a direct way, creating new jobs and oppportunities, but also gives a psychological boost to those of us living and working here.

Confidence can be a fragile thing but there are other signs of it growing, including a dramatic increase in the number of people taking the plunge and starting up their own businesses, with entrepreneurs in the Capital unsurprisingly leading the way.

You would be forgiven for missing it, amid all the furore over the pound and its place – or otherwise – in an independent Scotland, but there has been other good news for the Scottish economy in recent days.

Encouraging reports from the Bank of Scotland and the Confederation of British Industry have highlighted growing confidence and a quickening of the recovery in the private sector north of the Border. The Bank of Scotland’s chief economist, Donald MacRae, has been moved to talk of a growing momentum to the recovery in the Scottish economy.

Of course, we must treat these signs with caution. There are caveats. The number of new businesses being launched in Edinburgh, for example, will include a large number of people made redundant from the financial services sector who perhaps had little choice but to strike out on their own.

But there is a mounting feeling in Edinburgh that it is a city that is ready to go places and that in itself is a vital step towards grabbing all the chances that come our way.