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Confidence increasing among Scottish SMEs

Category: Scotland Business News — Paul Morgan on September 18, 2013

A new report has suggested that small Scottish firms are becoming increasingly optimistic about the future, with many planning to invest and expand.

In figures that will be welcomed by the business world, a survey by the Federation of Small Businesses (FSB) has reported confidence is at a three-year high. It is the fifth quarter in a row that the FSB has reported such a growth.

The results of the survey also showed that up to 30 per cent of businesses polled were looking to increase their capital investment. With many firms having shored up their finances through invoice discounting, the show of strength is a good sign.

However, there were a few warnings in the survey.

For example, whilst increased confidence levels are still below the national average, more SME owners expect profits to fall than rise in the near future.

There were also no signs of new recruitment drives being put into action.

However, the Bank of Scotland recruitment monitor does suggest that there were improvements in the labour market, with more and more drives being seen throughout the country.

The FSB believes that the small firm issue is more to do with a lack of support and advice from Holyrood, which should be targeting firms that have potential to hire.

In all though, the results were welcomed, with the organisation’s Andy Willox saying:

“It suggests a fledgling Scottish small business recovery is under way.”

The Scottish policy convener for the body continued to say that there is still a lot to be done to reap the full rewards available from concerted efforts.

'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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