Scottish small business confidence on the rise
But survey of more than 300 firms found businesses were still largely negative about their prospects
Construction - Fotolia
Confidence among small businesses in Scotland is on the rise, according to a new survey from the Federation of Small Businesses.
But while the survey of more than 300 firms found that confidence had improved in the first quarter of 2017, businesses were still largely negative about their prospects.
The FSB found confidence among small UK firms has risen to the highest level in over a year despite “spiralling” business costs.
In Scotland the FSB found that employment was flat for small businesses during the first quarter of 2017, though some firms said they anticipated hiring new staff over the next three months.
Andy Willox, FSB's Scottish policy convener, said: "Scottish business confidence couldn't fall much further at the end of 2016.
"A bounce at the start of this year is welcome, but looks like it will be tricky to sustain given that firms are reporting falling revenues.
"Too few Scottish businesses have faith that our economy is travelling in the right direction.
"The UK government needs to convince firms that their plans for Brexit will safeguard their interests.
"The Scottish government and our local councils also need to put local growth at the top of their agenda."
The survey showed nearly half of respondents said the state of the domestic economy was a barrier to growth, while around four in ten cited consumer demand.
In June parliament voted to replace Air Passenger Duty with a new Air Departure Tax, which is expected to be substantially lower
Prime Minister used her speech to revive plans contained in the Conservative manifesto to cap prices for 12 million consumers
Speaking at the Labour conference, McDonnell said he wanted to end the “scandal” of private firms making huge profits on the back of deals to build hospitals and schools
YouGov finds that 61 per cent of Leave voters believe that “significant damage to the British economy to be a price worth paying” for Brexit