Confidence among small business owners in Scotland slipped back into negative territory in Q2, after hitting its highest level in two years the previous quarter. The reading fell by 17.7 points to -7.0, meaning more firms expect their performance to worsen over the next quarter than to improve.
There were, though, some grounds for optimism, with the proportion of firms reporting revenue growth in Q2 (34.8%) exactly matching those reporting a decline. The zero net balance is the first non-negative revenue result in a year, and represents a considerably stronger performance than the UK-wide figure of -9.3. Crucially, respondents broadly expect revenue growth over the coming quarter, with a net balance of 13.4 expecting them to grow.
Almost two-thirds (62.5%) of small businesses in Scotland experienced problems with late payment in Q2, compared to approximately half (49.4%) in the same period last year. And nearly a third of firms (32.3%) saying it’s getting worse.
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