Businesses

500,000 Scots to launch businesses



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More than half-a-million Scottish adults expect to start their own business, according to recent figures.

Research published by the Bank of Scotland found that 12% of Scotland’s adult population anticipate starting a company on their own or with a partner.

This sentiment was particularly strong among younger adults, with 26% of 25- to 34-year-olds and 24% of 18- to 24-year-olds expecting to start a business.

Jo Harris, managing director of retail business banking at Bank of Scotland, said: “It’s not surprising to see that so many Scots are making in-roads to starting their own companies.

“We’re living in a digital-age where information is readily available at people’s fingertips, helping them to achieve their start-up goals with more confidence and support.

“We’re also confident that people are inspired by Scotland’s increasing status as a start-up hotspot, particularly within the tech sector.”

In October, it was revealed that property is the single largest cost for new businesses.

Earlier this month, fintech lender Spotcap announced plans to provide funding to UK SMEs.

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