Scottish SMEs confident going into 2013

With more investments coming in this 2013, small firms in Scotland are gaining confidence despite the increasing prices and frail condition of trade, a study from Federation of Small Businesses (FSB) revealed recently.

According to Andy Willox, the policy convenor of Scotland’s FSB, more firms want to produce and start more businesses through investment. He added that when those investments move around the economy, it will build confidence which will lead to growth.

The convenor also expressed that they are hoping that the rise in the Annual Investment Allowance will motivate more companies to invest. In addition, he said that it is important for the investors to observe their plans and possible return on investment.

Meanwhile, KPMG accountant released some numbers, which showed that the collapse in the corporation in Scotland registered 26.9% in the last quarter of the year. Moreover, the liquidation of the companies also fell down by 2.8, making 1,090 drop to 1,059.

Head of restructuring of Scotland’s KPMG, Blair Nimmo, said that those numbers mean good news. The reduction, however, is not enough to show that the hindrances caused by the economic crisis will be totally overcome.

He added that in 2012’s second half, there are high profile actions, which made an image of worsening hardships in the economy. One of the remarkable appointments is the one that is from the retail group, which ruled the news program and believed that things are worse than they expected.

Nimmo added that they discovered that most corporations now admit that the year 2008 and beyond brought a lot of changes. Those companies became used to it and are already making adjustments to cope with the present condition of the economy. Because of this, businesses will be more conscious on controlling the cost and they will keep an eye on their money.

The head also stated that after five hard years, firms in Scotland are now having hope of survival until the time that the economy goes back to normal. For the mean time, they will continue to look in to projected investments for the country.