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Independence referendum has no impact on UK businesses

Category: Scotland Business News — Paul Morgan on September 22, 2013

A recent poll has suggested that businesses are not worried by the independence referendum for Scotland in 2014.

According to the results of the survey by the British Chambers of Commerce (BCC), 90 per cent of all companies across the UK were not concerned about the upcoming vote.

The results also showed that there has been no impact on current business operations.

In the survey, 2,000 UK firms were asked how the issue was affecting sales, recruitment positions and investment in business premises.

However, 14 per cent of firms which reported no impact to their business said they were under informed about the issue. A further 17 per cent explained that it was too soon to determine whether there would be an impact.

Of the five per cent of businesses reporting there had already been an effect, most said these were generally limited to Scottish operations.

Discussing the results of the survey, John Longworth from the BCC aid:

“Only small numbers of businesses say that the referendum is having an effect, mainly on investment decisions in Scotland itself, which is hardly surprising.”

With more companies in Scotland selecting to work with invoice factoring as a key part of their financial structure, the issue is affecting future investment, where there is an impact.

However, the BCC does expect the landscape to change over the next 12 months. As such, it says it will continue to monitor the situation, and has called for greater research in order to draw more robust conclusions.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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