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SCOTTISH BUSINESSES SET FOR LONG CLIMB BACK, ACCORDING TO BCC/SCC SURVEY

[ 07-08-2009 ]

The latest British and Scottish Chambers of Commerce  Monthly Business Survey, published today (Friday), reveals mostly positive attitudes to the road to recovery, with businesses prepared for the long haul stretching over at least the next twelve months.

 
The results from 175 companies across Scotland also confirm that financial caution rules the roost in planning ahead as stock levels stay steady.  Encouragingly swine flu is increasingly seen as an issue to plan for without widespread fears of its endangering the economy further.
 
The key findings from the survey include:
 
- None of the businesses surveyed plan to increase stock holdings. 88% will maintain stock at their current levels, while 12% will decrease stock in the next 3 months.
 
- 1 in 6 businesses see growth returning to the Scottish economy by the end of 2009, while over eighty percent expect a return to growth by mid 2010.
 
 
Liz Cameron, Chief Executive of Scottish Chambers of Commerce commented:
 
"Not surprisingly businesses are in a prudent mode going forward. Employee incentives are being strongly supported as businesses recognise it is their teams who will be key to individual enterprises progressing. With over half of businesses still recruiting young people in the last year, there is clearly a recognition that being ready for the recovery is crucial to benefiting from the upturn when it comes.
 
“We look to government to support the recovery by appropriate measures, but at the end of the day it will be business itself that drives an economic recovery, boosting employment along the way. Policies to help businesses retain jobs, increase employment and remain competitive, will be critical over the next 12 months. Scrapping plans to raise National Insurance contributions in 2011 is an obvious place to start, as is the speedy implementation of effective procurement and planning frameworks."
 
Ends

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