Businesses preparing for a tough year ahead
Paisley businesses expect a tougher year ahead in boosting exports, a report reveals.
Even though economic growth continued in the final months of 2018, only one in five firms are expecting to increases sales abroad this year - with Brexit hitting business confidence.
The latest Scottish Business Monitor from St rathclyde University’s Fraser of Allander Institute, indicates the total volume of business rose for 35 per cent of firms surveyed.
However, the report also found the outlook for export activity worsened with fewer than 20 per cent of firms forecasting growth.
Institute director Graeme Roy said: “Scottish businesses appear to be remaining relatively resilient to the ongoing political uncertainty.
“But they will be awaiting next week’s Brexit vote with trepidation.
“Through no fault of their own, many Scottish firms are simply unprepared for a disorderly Brexit.
“Whether you agree or disagree with the decision to leave the EU, a smooth transition is vital.
“The potential disruption to trade patterns, supply chains and basic economic infrastructure mean that a ‘no deal’ outcome must be avoided.”