Quarter of Scottish small companies fear business may close in next six months - Meta poll

A quarter of small business decision makers in Scotland fear their business may close, while a third say the main priority in the next six months is survival, according to new research.

The study, which was conducted online by YouGov and commissioned by Facebook owner Meta, polled decision makers within Scottish companies employing fewer than 50 people. A third (33 per cent) of those polled worry their business won’t be able to keep up with their outgoings during the year ahead while about one in five (18 per cent) admit to using less energy to save on bills. More than a third (37 per cent) say reducing costs would be crucial to their business’ future success.

Meta said it was offering small businesses in Scotland the opportunity to apply for free access to office space and ease the burden of their rising costs in the months ahead. The firm has also teamed up with entrepreneur and chief executive of sustainable activewear brand Tala and fitness brand Shreddy, Grace Beverley, who will be participating in Meta’s Good Ideas Studio. The event will be held in Edinburgh at Dovecot Studios on November 10 and 11.

Steve Hatch, vice-president northern Europe, Meta, said: “Small businesses are the lifeblood of the UK economy and right now they face the challenge of a lifetime just to keep the lights on. We know there’s no one fix to the challenges faced, however we believe through helping both online and offline we can provide support to local businesses in need.”

A third of those polled worry their business won’t be able to keep up with their outgoings during the year ahead.