ALMOST half of Scottish small and medium-sized enterprises (SMEs) have struggled to know where to turn for advice over the past year.
However, it has not stopped them looking to the future, with 50% “very optimistic” and already preparing for developments, including a second independence referendum.
A survey by CEO coaching and SME advisory organisation Vistage found that 47% claimed they did not have adequate support when they had to make difficult decisions through the coronavirus pandemic.
One in four small business owners said they had felt alienated from their business because of decisions they had to make as a result of the crisis.
Their dissatisfaction turned to government, with only a tenth agreeing that Holyrood and Westminster had responded “very well” in their support around Covid-19 and Brexit.
SMEs turned to a variety of sources for guidance, with 41% opting for government websites and online forums; 38% consulted friends in other businesses; 19% sought advice from peer support groups; 18% from networking groups; and 15% spoke to third party advisers or consultants. Non-executive or senior executive colleagues were a source of support for 7.5% while 12% did not turn to anyone for help.
However, despite what was a challenging year, local business owners said they remained optimistic about what the next 12 months holds.
Half were “very optimistic” and actively preparing for future political and social developments which they expected to influence business decisions over the coming year, including a potential indyref2. Others were: sustainability (58%), diversity and inclusion (44%), learning and development (50%) and an independence referendum (55%)
George Hall, one of six Vistage Group chairs in Scotland, said: “I have seen first-hand the strength and endurance that small business owners in Scotland have shown over the past year. It is apparent from the research that Scottish businesses require more support, beyond just financial, as they look ahead to a life post-lockdown. They have shown their resiliency and it’s now important that they obtain help and guidance in navigating what the next year brings.”
Despite the challenges Scotland has faced over the past 12 months, with more ahead, business owners remained dedicated to growing their concerns here, with 41% saying they would not want to run their business anywhere other than in Scotland.
More than 56% claimed that Scotland had always produced excellent business and they are proud to be part of that and one in three respondents (35%) felt that Scottish businesses will rebound from setbacks quicker than anywhere else.
Shona McCarthy, chief executive of the Edinburgh Fringe Festival and Vistage member, said: “The Fringe Festival has been badly affected by Covid-19, but my Vistage group is always full of practical advice and help.
“I recently came to the group with a huge question: ‘How do I use this moment in time as a positive opportunity to create major change in the organisation I lead?’ It was honestly the most rewarding, brilliant session I’ve ever been involved in.
“Everyone in my group read the document I sent beforehand, and they all came to the session with a different perspective and something unique to say.”
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