A report from the British Chambers of Commerce suggests that the independence referendum has had no impact on most companies’ operations. Its survey found 90% of companies were “unfazed” by the referendum, due to be held in a year’s time.
John Longworth
British Chambers of Commerce
2,000 companies across the UK were asked about a range of subjects, including orders and sales, employment intentions, or investment in plant and premises. When asked about the referendum, 14% said they didn’t have enough information to tell if it would have an impact in the future, while 17% though it too early to tell”. Significantly, some 68% of those reporting no impact said the majority of their trade came from outside Scotland. Only one business in 20 reported the referendum having already had an impact, with 1% reporting a positive impact.
The organisation called for additional research to draw firmer conclusions. Its director general, John Longworth, said that this survey indicated that “the Scottish independence referendum has left most businesses unfazed. The debate has not yet had an appreciable impact on custom, employment or investment for the vast majority of UK companies. Only small numbers of businesses say that the referendum is having an effect, mainly on investment decisions in Scotland itself, which is hardly surprising. However, a year is a long time in both politics and economics.”