Scottish business confidence has risen into positive territory for the first time in a year, according to the new Business Confidence Monitor for the Institute of Chartered Accountants in England and Wales (ICAEW).
The second quarter of 2023 saw most regions in the UK finally out of the red in terms of confidence, with Scotland scoring a 6.4, up from -0.2 in the first quarter of the year.
Contributing to this is Scotland’s export growth, the highest in the UK, as well as its domestic sales, which saw an increase of 5.6%, one of the biggest in the country, beating the national average of 4.9%.
Despite this positivity, Scotland continues to face the same challenges as much of the UK, with businesses and consumers alike suffering from high inflation rates, soaring energy costs, and an economy shrouded in uncertainty.
ICAEW surveyed its members across the country to assess current business…
