Nearly 20% of Scottish firms ‘expect to reduce operations due to rising energy prices’

Only 7% of businesses anticipate strong growth in the next 12 months, according to a new survey

One-in-five businesses in Scotland expect to reduce operations this year due to the increase in energy prices.

That’s one of the findings of the latest Addleshaw Goddard Scottish Business Monitor report which revealed that only 7% of firms are expecting strong growth during the next 12 months.

The report, produced in partnership with the University of Strathclyde’s Fraser of Allander Institute also shows that sustainability and the net zero journey are still among firms’ priorities after COP26.

However, the survey of more than 400 businesses suggests that the high costs associated with sustainable measures are a barrier to the transition according to 91% of respondents.

Nearly 84% also highlighted the need to prioritise Covid recovery and two-thirds identified a lack of government funding as a potential obstacle to their net zero route.

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