Scottish firms increasingly favour Brexit

Picture: PA
Picture: PA
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The proportion of business leaders in Scotland who believe British firms should stay in the European Union has fallen from last year, although the majority still favour remaining in the EU, according to a survey published yesterday.

Business Growth Fund (BGF), which provides capital to small and mid-sized businesses, said the percentage of leaders who favour remaining in Europe fell to 61 per cent from 82 per cent in June 2015.

But 64 per cent said the UK being part of the EU gives British businesses essential access to European markets, while 55 per cent were worried that an EU exit risks constricting business growth.

BGF investor Mike Sibson said it was “clear that despite uncertainty prompted by the vote, and economic instability overseas, Scottish businesses remain committed to growth”.

The survey also found that 61 per cent of respondents were focused on growth, but only 18 per cent expected conditions for growth to improve over the next quarter, down from 46 per cent in November last year.

Additionally, 67 per cent of respondents believed a Brexit would prompt another Scottish independence referendum.

Meanwhile, a second survey yesterday showed that 70 per cent of respondents in the property industry in Scotland and England believed the UK should stay in the EU while 18 per cent favoured a British exit.

Property consultancy Ryden found that 35 per cent of those surveyed thought the EU referendum process would cause their income to drop slightly.