Scottish SMEs 'more confident' than English counterparts about the economy reopening



Scotland’s small to medium-sized enterprises (SMEs) are more confident than their English counterparts about the economy reopening.

PayPal polled more than 1,000 SMEs across the UK and found that 60% of Scots are more bullish, compared to 51% down south.

Despite 44% of Scotland’s SMEs saying that spending on the high street will never recover, optimism is high among business owners, with more than half (58%) planning to prioritise local customers over international sales.

With 65% of Scottish SMEs expecting the majority of consumers to continue shopping online, despite the lockdown restrictions easing, businesses plan to continue investing in digitalisation.

More than one third (35%) will continue using social media to promote and sell products and services and one in four (21%) plans on implementing new digital payments to facilitate the customer experience.

Vincent Belloc, managing director at PayPal UK, said: “Optimism is high, with over two thirds of Scottish SMEs showing confidence in a cautious reopening, however we know that the future for business is digital.

“Small businesses need help envisioning their future and a failure to protect them will put the speed of recovery at risk.”

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