Scottish SMEs Divided on Independence
LONDON, UNITED KINGDOM--(Marketwired - July 1, 2013) - Research from AXA Business Insurance reveals that just over half of SMEs in Scotland are in favour of independence, in contrast to those across the rest of the UK who are less enthusiastic.
The study, which questioned around 500 SMEs across the UK, revealed that one in four (25 per cent) of all those questioned believe that independence would be a good thing for small businesses in Scotland, while 45 per cent believe it would not. The remaining 30 per cent are not sure either way.
However, when it comes to businesses based in Scotland, the number in favour of independence doubles to 52 per cent, while only one in three feel independence would not be a good thing for SMEs.
South of the border, in England, 43 per cent of SMEs think independence would not be a good thing for their contemporaries in Scotland, while in Wales this number is 59 per cent.
The study also revealed that Scottish SMEs are more negative about current government spending cuts than SMEs based in England, although those in Wales are the most unhappy about the effect these may have on their business.
However, a larger percentage of SMEs in Scotland than in England feel that the current low interest rates provide a positive outlook for their business.
The results come on the back of the AXA Optimism Index which last week revealed that, while levels of optimism were riding high right across the UK, SMEs in Scotland were the most upbeat about their futures.
Darrell Sansom, managing director at AXA Business Insurance says: "It is clear from our research that this is an issue that is very much front of mind for small businesses.
"SMEs have a lot of business critical issues to manage at the moment and the uncertainty around a possible independent Scotland will only add to those concerns.
"Regardless of the outcome of the vote, it is important that small businesses are looking at every eventuality and ensuring that their business is prepared for the vote to go either way."