World Economy

Scottish SMEs Worry

Scottish SMEs Worry Scottish SMEs Worry

Economic woes in China and the eurozone have dented Scottish exports. Scotland’s small to medium-sized exporters are selling less of their goods and services overseas and the number of firms exporting has declined, new research has found, Yahoo reported. But those that do business abroad expect foreign revenues to grow as they become more competitive during the first half of 2016, according to the latest Business in Britain report from Bank of Scotland. The report found that the proportion of Scottish businesses that export has declined in the last six months of 2015, from 30% to 27%, and those that export now make 31% of their sales overseas, down from 32% mid-way through 2015. The findings will be disappointing for those with ambitions of growing Scotland’s overseas trade. The report comes during Exporting is Great Week, an initiative of UK Trade & Investment to reverse the UK’s widening trade deficit.