Seven in 10 Scottish small businesses (70%) are working on new initiatives to achieve business growth in the spring months - a rise on the previous 12-months - according to new research from Novuna Business Finance.

Following 2025 starting with a dip in the percentage of UK small businesses predicting growth, the latest findings suggest a solid resilience among Scottish small business owners to move forward. These positive resolutions defy the challenging context – namely, the seismic geo-political uncertainty and the risk of the US imposing tariffs on the UK and EU markets in the coming weeks.

The most common projects that Scottish small businesses were working on to boost growth prospects over the spring months included: Keeping fixed costs down (56%), improving cash flow (38%), being stricter getting paid on time (25%), re-assessing finance/funding commitments (21%), expanding into new markets / overseas (20%), streamlining supply chain (16%) - and investing in new equipment (14%).

Beyond the position in Scotland, the upturn in small business owners investing in future growth projects was evident across five other UK regions - including The West Midlands, London, the North West, Humberside and the South East. Further, nine industry sectors also saw an increase in the percentage of enterprises investing in new projects to deliver future growth. The most pronounced rises were in Media & Marketing, Leisure and Hospitality, Real Estate, Legal Services and Transport.

Joanna Morris, Head of Insight at Novuna Business Finance Comments: “Having reported a fall in the percentage of small businesses that predicted growth at the start of the year, it is positive that so many Scottish enterprises are investing in new projects to drive future growth over the spring and summer months. This is especially impressive given the international tensions that inevitably usher in a period of volatility and market uncertainty – and impact everyone’s supply chain.”

“At Novuna Business Finance, we are committed to helping established small businesses to work through challenging phases in the economic cycle. We provide flexible, tailored financial solutions to help established small businesses to plan for long-term growth and – in doing so – to realise their full potential.”

Scottish small businesses defy geo-politics market uncertainty