This thesis will look at the development of the business structure of industry in the Kirkcaldy area between ca. 1900 and 1960. Relative economic decline and the loss of autonomy are central to our understanding of Scotland today. This thesis contributes to our understanding of these processes by examining change in one region both at the level of the business community and of the individual firm. The thesis will explore how the stock of manufacturing and coal-mining companies changed over time and how this was affected by company strategies. The discussion will be linked to the historical debate about the nature of entrepreneurship in Britain and the influence of family ownership on business decision-making. Kirkcaldy was chosen because its relative prosperity in this period meant that it was seen by contemporaries as a potential centre for the revival of the Scottish economy. The thesis will explain why the locally-owned and based companies which dominated the area into the 1950s did not contribute more to this process. The thesis will start by explaining how valuation rolls and the Register of Company files have been used to map the structure of business. It will be argued that the combination of these two sources makes it possible to explore such issues as turnover in the stock of businesses and changing patterns of ownership. The data thus collected will be used to trace the development of business in the area over time. In particular, it will emphasize the low rate of turnover in the stock of manufacturing companies between the 1920s and the mid-1950s and the rapid restructuring of the local economy thereafter.