Scots firms still say UK best for business

Published on Sunday 22 November 2009 21:03

SCOTTISH companies still believe the UK is the best place to do business despite the ravages of the recession, according to a survey published today.

Nine out of ten business owners backed the UK, while only 10 per cent of managers felt they would be better off if they were based overseas.

Support for the UK as a location for business was consistently high across all nations and regions, according to Clydesdale Bank, which commissioned the poll of almost 800 businesses.

Scott McKerracher, Clydesdale Bank's regional director for Scotland, said: "Our research shows that Scottish businesses are committed to the UK as a place to do business.

"While businesses of all sizes, and particularly small and medium-sized businesses (SMEs), have experienced tough times, the research shows businesses are optimistic about the UK's prospects and believe it is the ideal base for their firm."

Previous research by Clydesdale Bank showed two-thirds of managers believed the UK would start to experience an economic upturn by spring 2011.

News of the latest SME survey comes after reports in August that consumer goods maker Reckitt Benckiser was considering moving its headquarters overseas due to the high cost of living in the UK.

Companies that have already moved their head office include advertising firm WPP and engineering company Charter.

Pharmaceuticals group Shire and United Business Media is also understood to be planning to move its headquarters to Ireland for tax purposes.