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Scottish firms pessimistic for future

Category: Scottish Economy — Gary Cain on January 30, 2013

A new survey by the Scottish Chambers of Commerce (SCC) has indicated that the economy continued to perform weakly in the final quarter of 2012.

Presenting an even bleaker picture, Scottish companies also expect improvements to be limited in the first quarter of 2013.

The SCC called for more work by both the UK national and Holyrood Governments to address the issue and put greater focus on breaking down barriers. Improving access to commercial finance in Scotland is an area which could be debated.

There were some signs of improvement, but Garry Clark, the head of policy at the Chambers, said:

“Whilst there have been marginal improvements in performance and outlook for a number of businesses across the manufacturing and construction sectors, this is against a background of poor expectations at the end of summer 2012. In most cases, expectations are little or no better than they were a year ago.”

The results of the survey show that finding adequate access to workable funding is important.

This is as true for those growing businesses as it is to those looking to sustain it, with alternative methods being increasingly sought, often with the help of an invoice finance broker.

In a separate report, CBI Scotland also found that Scottish manufacturing saw a slump in orders as the New Year dawned. Domestic orders were affected for the seventh quarter in a row, whilst exports saw their first fall in three years.

However, the report did also indicate that growth could be seen in Q1 of the year.

'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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