Responding to Office for National Statistics figures showing that GDP rose by 0.1% in the month of November, Andrew McRae, FSB Scotland Policy Chair, said:
“These stagnant figures underline just how delicate the economic situation is and why we need government measures – in Westminster and Holyrood – to boost growth now.
“Small businesses are worried about rising costs, lumpy cashflow and the raft of proposed changes to employment law. That’s knocking their confidence and firms that aren’t confident don’t invest and don’t hire new staff – not a recipe for economic growth.
“It is Scotland’s agile small businesses, who make up 98% of our entire business base, employ nearly a million people and turn over £93bn a year, who can deliver growth – and government action must be aimed squarely at creating a day-to-day trading environment that frees them up to do so.”
ENDS
For further information contact:
Euan McGrory [email protected] 07734 509 227
Notes to editors
- The Federation of Small Businesses (FSB) is a non-profit, non-party-political organisation that offers its members a wide range of vital business services, including advice, financial expertise, support, and a powerful voice heard in governments. Founded in 1974, FSB celebrates its 50th anniversary in 2024.
- Micro and small businesses comprise almost all enterprises in Scotland (98%), employ over 900,000 people and turn over £93bn.