More Scots firms setting up EU units ahead of split

The number of mediumsized Scottish businesses looking to establish EU subsidiaries in the run up to Brexit is rising, a new study suggests.

Over the last three months, there has been a 52 per cent increase in the number of firms that feel they need to set up subsidiaries or branches in the EU, according to the fourth quarterly Yougov Brexit Monitor, commissioned by RSM.

In addition, more than a third of Scottish companies reported they still need to take measures to review or adjust EU supplier contracts, which has jumped from 10 per cent in December to 42 per cent in March.

Alex Tait, RSM’S regional managing partner, said: “Scottish businesses clearly need more clarity on the future trading environment to boost sentiment.”