Responding to the First Minister’s speech on his priorities for government, Colin Borland, the Federation of Small Businesses’ (FSB’s) Director of Devolved Nations, said:
“It is no surprise that the First Minister has chosen eradicating child poverty as his number one priority – no one would argue with that. And he’s right to say that this is intrinsically linked to growing the economy.
“We’ll get nowhere near wiping out child poverty without an equally laser-like focus on boosting economic growth. All the elements required to lift people out of poverty – building more affordable housing, for one – will only come through sustained economic recovery.
“Since the First Minister has taken office, it’s been good to hear him commit to building Scotland’s economy and supporting jobs as key priorities.
“Fortunately, things are looking a bit brighter right now, with our latest Small Business Confidence Index showing small businesses in Scotland are more optimistic than at any time in the last two years.
“However, there are still significant headwinds facing our smaller firms, with more reporting falling revenues and staff numbers than experiencing growth.
“We welcome the announcement of additional support for startups earlier in the week. But it’s equally critical the government doesn’t lose sight of the needs of the existing small and micro businesses which comprise 98% of our economic base.
“The First Minister emphasised the importance of working in partnership throughout his speech, and he can take a lead in this by listening to the voices of those who will be instrumental in the day-to-day execution of his plans to grow the economy – small business owners.
“That means delivering on the most significant planks of the New Deal for Business, and in particular ensuring there is a fuller assessment of the impact on small businesses whenever any new regulations are brought forward. There’s also a pressing need to accelerate work to understand the cumulative impact of regulations on small businesses.”
ENDS
For further information contact:
Euan McGrory – [email protected] - 07734 509227
Notes to Editors
- FSB’s Scottish Business Index (SBI) for Q1 2024 found confidence back into positive territory at +10.7 for the first time since Q1 2023 and at its highest level since Q1 2022. FSB surveyed 968 small firms for the Q1 2024 SBI between 21 March and 8 April, with 113 responses from Scotland. Statistics are based on a weighted analysis of survey results. Weighting is applied to ensure figures are representative of the UK’s business population.
- 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. More information is available at www.fsb.org.uk.
- Micro and small businesses comprise almost all enterprises in Scotland (98%), employ 900,000 people and turn over £82bn.