Businesses “largely unconcerned” by Scotland and EU referenda

The report by Vistage, a P2P mentoring organisation, found that just over a quarter (26 per cent) of medium-size-business CEOs and owners would expect Scottish independence to have a negative outcome for their business, while just 14 per cent were concerned with the impact of a prospective EU referendum.

Steve Gilroy, CEO of Vistage, said: “Our research shows that Britain’s mittelstand business owners are confident about their performance and a sustained recovery, and such political issues like the Scottish vote for independence or the referendum on Britain’s membership of EU, are not threats for most.

“While many financial and large international businesses may not like the prospect of Scottish independence, it will have little impact on most medium-sized businesses in the UK. Similarly, the prospect of an EU referendum leaves the majority of mid-sized businesses unfazed.”

The report also found improving confidence among mid-sized firms, with 76 per cent expecting the UK’s economic conditions to improve over the next 12 months, and 63 per cent planning to expand their workforce.

Gilroy added: “These results may come as a surprise to some politicians, but less so to the growing band of commentators who have recognised that Britain’s medium-sized businesses are a strong and reliable pillar of our economy, and a main driver behind the economic recovery.

“They are still the UK economy’s unsung heroes, despite their huge importance to a sustained recovery and job-creation.”

Related: Scottish independence plans do not add up, says CBI 

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