Business booming for Scotland’s small firms

Scotland’s small firms are enjoying booming demand as steps to re-open the economy boost confidence, according to a report today.

The RBS Small Business Recovery PMI survey found that firms are seeing the strongest upturn in output in more than four years. Optimism now stands at its highest level for over eight years.

However, the report also found that cost pressures for small businesses across the

UK have hit a ten-year high due to pandemic disruptions and Brexit trade frictions.

The survey shows small firms in the construction sector are enjoying particularly strong growth, with output rising at the fastest pace since June 2001. Service sector companies also recorded the steepest rate of activity growth for three years in March as they enjoyed a surge in forward bookings and improved confidence as roadmaps out of lockdown were published.

Small businesses also upped their employment levels.