• 1
    Current track

    Title

    Artist

    Current show

    Current show

    Background

    Scottish business confidence “evaporating”

    Written by on October 4, 2019

    The confidence of smaller companies in Scotland is “evaporating”, according to a new study.

    The FSB’s Small Business Index slipped by almost 17 points, during the last three months.

    The overall UK figure has now been in negative territory for five successive quarters for the first time.

    Andrew McRae, FSB’s Scotland policy chair, said: “Scottish business confidence has evaporated over the last quarter. And, for more than a year now, UK business optimism has been outweighed by fear and doubt about the direction of the economy. This trend will only end when policymakers pull themselves together and set out a clear plan for our futures.

    “We must see progress on avoiding a no-deal, no-transition Brexit. While firms must do what they can to prepare for this outcome, it would be unforgivable if good Scottish businesses go to the wall because of political games.”

    “Many smaller firms are trapped between the rock of increased overheads and the hard place of an uncertain economic future. Policymakers must take action on both of these fronts: taking action to reduce costs and providing certainty whenever possible.

    “As a priority, the Chancellor should take action to reduce the overheads of smaller employers.

    “North of the border, the Scottish Government’s package of rate reforms must deliver for smaller firms. We must see a smarter rates system which ensures smaller firms get the help they need.

    “Given the wider context, we can’t see business issues slip off Scottish Ministers’ agenda, especially in the run up to the Scottish Government budget. We’re looking for the Finance Secretary to push for all government departments to give smaller firms a break at this difficult time.”