This report summarises the key results from our latest Fraser of Allander (FAI) Scottish Business Monitor, published in partnership with Addleshaw Goddard.
As restrictions start to ease and the wider economy re-opens across Scotland, the Scottish Business Monitor survey published today (28 April 2021) highlights that business sentiment has improved since the last quarter of 2020.
The latest Addleshaw Goddard Business Monitor report – produced in partnership with the University of Strathclyde’s Fraser of Allander Institute – indicates that firms are more optimistic about their expected volume of business over the next six months with employment also expected to increase.
Following a survey conducted among more than 500 Scottish firms, almost 90% are confident that their chance of survival over the next six months is somewhat or very likely. The outlook for economic growth has also improved with 25% expecting a positive 12 months.
However, Brexit has created a negative impact on trading for nearly two-thirds (64%) of businesses which trade with the EU, with only three per cent reporting an increase in activity since the end of the UK’s transition period.
James is a Fellow at the Fraser of Allander Institute. He specialises in applied analysis of trade and climate change. His work includes the production of economic statistics to improve our understanding of the economy, economic modelling and analysis to enhance the use of these statistics for policymaking, data visualisation to communicate results impactfully, and economic policy to understand how data can be used to drive decisions in Government.
Mairi is the Director of the Fraser of Allander Institute. Previously, she was the Deputy Chief Executive of the Scottish Fiscal Commission and the Head of National Accounts at the Scottish Government and has over a decade of experience working in different areas of statistics and analysis.