A survey of businesses in the Highlands and Islands has reported that although companies remain optimistic about their own prospects, there has been a decline in confidence in Scotland’s economic outlook since the UK’s EU referendum.
A total of 1,054 businesses located throughout the region took part in the survey carried out by Highlands and Islands Enterprise (HIE).
A little over two fifths said their confidence in Scotland’s economic outlook had decreased in the previous six months, compared to 27% in 2015, the last survey before the EU referendum.
12% said it had increased and 44% remained the same.
While the referendum result had little impact on individual firms’ investment plans, over half said it made them feel less confident in Scotland’s economic outlook.
Highlands and Islands businesses optimistic about prospects
18 September 2016
Conversely 79% of businesses reported that their business performance over the past 12 months was generally stable or improving, up slightly from 76% last year.
The proportion of those reporting that their business had struggled meanwhile was down from 24% to 20%.
Almost three in four businesses were optimistic about their own prospects over the next 12 months.
Some 85% said they anticipate growth or stability in the next year or two.
Carroll Buxton, HIE’s director of regional development, said: “Clearly uncertainties around the UK’s EU referendum are reflected in confidence levels among businesses in the Highlands and Islands about Scotland’s wider economic outlook.
"On the other hand, the optimism they express about their own individual business performance and prospects is equally clear."