Scottish business confidence in sharp fall

Uncertainty is weighing on business confidence in Scotland, a new report out today suggests.

The Bank of Scotland’s Business Barometer for March said overall confi‑ dence for firms in Scotland fell to 12 per cent, sharply down from February’s fig‑ ure of 35 per cent.

Economic optimism is positive, but stands at a net balance of just +5 per cent. The report said firms’ con‑ fidence in their own busi‑ ness prospects was a net balance of +18 per cent.

Jane Clark‑hutchison, regional director for mid markets at Bank of Scot‑ land, said: “Scottish busi‑ nesses are feeling the effects of uncertainty, which is why we have seen a fall in confidence at the end of the quarter.”