Scotland Has Lowest Rate of Business Growth in UK

4th January 2018.

Scotland’s struggling economic performance has been exposed in new figures showing a record-low number of new businesses in the region.

According to official statistics, Scotland is boasting the lowest business growth rate in the UK, with the numbers of businesses failing each year far outweighing those that are created.

Business experts are warning the Scottish Government that urgent measures are needed to turn around the country’s economy.

Colin Jones, a partner at the accountancy firm UHY Hacker Young insists that Scotland’s poor business growth rate is the result of political uncertainty, with anxiety over Scottish independence and Brexit putting people off from starting their own business.

Mr Jones added: “Creating a new business is a high-risk decision and entrepreneurs need an environment and business framework that is stable, encouraging and predictable.”

The Scottish Conservatives are further urging for more support for business start-ups, drawing particular attention to the Scottish Government’s Business Gateway scheme where new ventures are hitting an eight-year low.

According to official figures, 8,746 new businesses received help from the organisation in 2016-17, a 15 per cent drop from 2009.

The Scottish Government have defended their scheme, however, claiming that it aided 10,679 business startups in 2016-17 and created 11,000 jobs. The Government rejects responsibility, however, insisting that as the scheme is funded by local authorities, it is them that need to determine spending.

The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!

See all our latest news here!

Keep up to date with the latest news by following us on social media:-

CPA on Linkedin

CPA on facebook

CPA on twitter

Watch the video to find out how CPA can help you!

How to overcome 25 of the most common excuses for non-payment

Click the image to discover step by step advice on how to deal with them!

 

 

 

 

 

Discover how to improve your cashflow in 3 steps.

Click the image to find our answer to the question “How can you get paid on time?”

 

 

 

 

Read our blog – Debt collection agency

Read our Cash Flow Advice

Read about our overdue account recovery service

Read our blog – What is credit management?

Read our blog -What is a credit management company?

Read our blog -Credit Management that works!

Read our blog – How to select a debt collection agency

click to see read about our successes

Please call us on 0330 053 9263 to discuss how CPA can help your cashflow. Alternatively, either email us or use our contact form.

I consent to supplying my personal information that may be used for marketing purposes and agree with the privacy policy.