More Scottish entrepreneurs expect higher turnover in 2025, a poll shows

More Scottish entrepreneurs expect higher turnover in 2025, a poll shows

Nearly three-quarters of Scottish businesses are confident about their prospects for next year, a survey has found.

The Bank of Scotland’s Business Barometer survey shows that 73% of Scottish businesses expect a turnover increase in 2025, compared to 60% from surveys in 2023.

Nearly a quarter (23%) of businesses expect their turnover to increase by six to ten percent over the next twelve months, while just over a fifth (21%) expect it to grow further.

The poll found that 70% of companies were confident they would become more profitable by 2025, an increase of two percent on the previous year.

Revenue and profitability growth was the top priority for companies at 52%, although 40% said they would focus on improved productivity, and the same percentage said they would look to improve their technology – such as automation or AI – or upskill their workforce. schools (both 29%).

More than one in five (22%) want to improve ecological sustainability.

In other areas, businesses hope to build on AI-enabled technology (19%), with 24% investing in expanding into new UK markets and 23% planning to invest in staff training.

The Business Barometer has surveyed 1,200 companies every month since 2002, providing early signals about Britain’s economic trends.

Martyn Kendrick, Scotland director at Bank of Scotland commercial banking, said: “Scottish businesses are looking ahead to 2025 with stronger growth expectations and are putting in place clear plans to drive this expansion through investment in new technology, new markets and their own teams.

“As we enter the new year, we will continue to stand by their side to help them pursue their ambitions and seize all the opportunities ahead.”

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