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Interim managers fear negative impact of Scottish independence
by Susie Hughes at 10:43 30/06/14 (News on Business)
Scottish independence will have a negative impact upon business, according to 89 per cent of senior business interim executives in a recent survey.
Providers, Interim Partners, who polled 500 interim executives, found that there is a fear that Scottish independence would burden businesses with extra costs and lead to uncertainty and a fall in business investment.

The findings come in the wake of poll results suggesting a significant shift towards a vote for independence.

Adam Kyriacou, Partner at Interim Partners, said: “There is a lot of concern in the business community that a ‘yes’ vote in the referendum would lead to greater costs and few benefits either side of the border. The interim executives we talk to see plenty of downside risk from independence without much on the upside.”

Interim Partners points out that major businesses within sectors in which Scotland has traditionally been very strong – financial services and oil and gas – have publicly expressed concern about the risks to independence from the union, including:

  • Standard Life has said that it would consider moving parts of its business elsewhere in the UK.
  • Lloyds has raised concerns about the potential impact of independence on compliance costs and its tax position.
  • Alliance Trust has begun to set up companies registered in England in anticipation of Scottish Independence to ensure it can provide continuity of service to its customers.
  • BP’s boss Bob Dudley has voiced concerns over the impact of independence.
  • Shell’s CEO has called for Scotland to remain in the UK for continuity and stability.

Freelancer trade group, the PCG, has already called for clarification about an economic plans for an independence citing that there are 'over 150,000 freelancers and almost 300,000 self-employed people operating in Scotland who need to know the consequences of independence'. (See: Call for clarity on economic plan for Independent Scotland - Feb 14, Shout99)

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Susie Hughes © Shout99 2014

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