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Businesses cautious with cash
THREE quarters of Scotland's small business owners would rather hold on to their cash than make any immediate decisions about investment in the business, new research has found.
The report, by Bank of Scotland Business Banking, also found that nearly four in ten small firms plan to put aside money in savings to earn interest.
More than one in five plan to put aside money for insurance against hard times and a further worsening of economic conditions.
Across Britain, small business owners are saving more than 1 billion every month as they begin to take a more cautious approach to investment decisions.
Peter Wood, head of strategy and products, said: "In a more cautious economic climate, where saving is prioritised over investment, it's vital that SMEs find the best home for surplus cash."
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Friday 25 May 2012
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