Scottish Small Business Confidence Lowest in Three Years
The FSB hinted a North-South divide as small businesses in Scotland, North East, and Wales lose out on jobs, revenues and productivity
Small business confidence in Scotland is at a three year low as the UK’s North-South divide worsens, according to a new report by the Federation of Small Businesses (FSB)
The study of 3,000 small businesses, conducted over the last three months of 2015, found that the fall in confidence was due, in part, to a downturn in the oil and gas sector and adds to growing concerns over the impact of the falling oil price on the broader Scottish economy.
The report also hints that small businesses in the North East, Scotland and Wales are being “left behind” in terms of job creation, increasing revenues and improved productivity.
Issues of concern for small businesses in the North include the recent flooding and the introduction of the National Living Wage this April.
FSB Scottish policy convener, Andy Willox, said: “The creeping gap between Scottish small business confidence and the UK average is a cause for concern.
“Many analysts have highlighted the impact of the falling price of crude on Scotland’s oil and gas industry.
“As you might expect, this decline looks to be having an impact on the local economies dependent upon this trade.’’