Confidence in the south of Scotland economy has risen to its highest level for over three years, according to new research.
The latest survey of 600 businesses reveals that optimism has risen to 48% from 37% in late 2024. This is the highest level of confidence recorded since early 2022.
Businesses are striving to grow, with fewer looking to downsize, while the vast majority identified areas to develop their organisations.
The survey, conducted in June and July on behalf of South of Scotland Enterprise (SOSE, also highlights the range of external and national challenges South of Scotland businesses face.
In terms of aspirations, 42% were striving to grow, while 38% were content at their current level and 17% were looking to downsize.
Most respondents considered current economic conditions (66%) and the cost of labour (60%) to be the biggest risks to their business.
Jane Morrison-Ross, chief executive of SOSE, said: “It’s wonderful to see the upturn in business confidence. It has been a difficult period, but we know our businesses are resilient, ambitious and ready to grow.
“We have key, international businesses in the region, like Johnstons of Elgin who have just opened the new Hawick facility, which cements their place in the South and supports their ambitious plans for sustainable growth.
“We are delighted to confirm the return of the Scottish Government-supported Pathways programme which supported 269 business founders in the South last year, and launched 100 new businesses, and the revolutionary Kight PowerHub which has potential to revolutionise domestic energy in the region, and beyond.”
The full survey is available to view at www.southofscotlandenterprise.com/business-surveys.
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