CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Scottish business pessimism subsides – FSB report
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Scottish business pessimism subsides – FSB report PDF Print E-mail
Tuesday, 20 June 2017
Scottish business confidence has risen for the second consecutive quarter, new research from the Federation of Small Businesses (FSB) reveals.  However, FSB’s latest business index also shows that, despite UK confidence falling over the last three months, business optimism is still lower north of the border than the UK average. The report highlights that it has been two years since a majority of Scottish businesses were confident that business conditions were set to improve. The Scottish business sentiment metric climbed to -3.8 points, up from -9.6 points in the previous quarter. By comparison, the UK-wide figure fell to +15.0 points this quarter, down from the +20.0 points seen at the start of the year.

FSB says the figures underline the need for the new UK government to put backing the small businesses and self-employed at the heart of its programme. That means, says FSB’s Scottish policy convenor, Andy Willox, reassuring employers about the future of their EU workers and not reintroducing the recently-shelved plans for tax increases on the self-employed.

Mr Willox said: “A majority of Scottish businesses have been gloomy about their prospects for two years. While, over the course of 2017 a growing share of Scottish firms have shaken off the economic blues, we can’t dismiss this long-term trend.

“While the health of our local economies hardly featured during the general election campaign, it can’t be forgotten about by our politicians. In the short term, the new government needs to quash concerns over the future of EU workers and the possible reintroduction of plans to hike self-employed National Insurance Contributions.

“Small business owners and the self-employed risk everything to create economic activity, jobs and revenues. If we’re to turn these shaky confidence figures around in the longer term, we need to create an environment where more people are ready to take that plunge.”

The report also highlights that profit margins in Scotland continue to be squeezed – with a net balance of 16 per cent of firms in Scotland reporting that gross profits fell during the quarter. The study argues that a key driver for squeezed profit margins is likely to be the depreciation of sterling, resulting in higher prices for imported goods and services.

FSB’s data also shows that Scottish investment intentions are more subdued than elsewhere in the UK. This quarter, a net balance of 5.7 per cent of small businesses in Scotland expect capital investment to rise over the next three months, compared with 13.2 per cent in the previous quarter. Scottish investment intentions now lag the UK as a whole by over 12 per cent.

Andy Willox said: “FSB has highlighted that the cost of employment has been rising for smaller firms for some time. Combined with rising input costs – spiked by the fall in Sterling – it is perhaps little wonder Scottish investment intentions are underwhelming.”
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197