Two thirds of mid-sized Scottish businesses committed to EU as CBI forecasts Scots jobs growth following remain vote

Over two thirds (69 per cent) of Scottish mid-sized firms are committed to remain in the EU after an uninformative and lacklustre campaign, according to a new poll published today by accountancy and business advisory firm BDO.

The figures come as the Confederation of British Industry (CBI) said yesterday that EU membership has boosted employment and economic growth north of the border for more than 40 years and a vote in favour of staying in the European Union would create an extra 70,800 Scottish jobs.

A CBI report revealed that nearly 800,000 jobs will also be created across the UK in the event of a vote to stay in the EU.

Citing Treasury figures as the basis for its document, CBI said 3.25million UK jobs out of a total of 33.8million across the UK depend on exports to the EU.

BDO’s poll, which surveyed 39 companies in Scotland (over 600 across the UK) with revenue of between £10m and £300m, found that 69% of Scots firms wanted to remain in Europe with 79% stating that leaving the EU would make for a less conducive business environment.

The firms felt the campaign has been poor and uninformative and made no difference to their position. 95 per cent said that the campaign had made no difference to their intentions with 62 per cent stating that they felt the level of debate was of poor quality and made no difference to their decision.

The mid-market is politically and economically important to the UK. These firms account for a quarter of private sector jobs - employing six million people across the UK - and generate revenue of £1tn each year.

Martin Gill, Head of BDO LLP in Scotland, said: “It probably comes as no surprise to learn that business owners have found the EU referendum campaign uninspiring. For the Scottish owners of these very important firms, however, the vote is likely to be critical. Exports and international trade are essential to the Scottish mid-market. These firms are entrepreneurial, have high-growth targets and are focused on international expansion so it’s no surprise that, with two days to go until the vote, the majority of these businesses support remaining within the European Union.”

Martin continued: “Despite being in favour of staying, mid-market firms do want further changes to the EU.

Over half (51%) of mid-sized businesses call for a greater focus on improving the EU’s worldwide trade agreements, such as the EU-US Transatlantic Trade and Investment Partnership, and negotiations with high-growth markets, such as India.”

“A third (34%) of the mid-market also want to see liberalisation of markets to further simplify international trade – the creation of a digital single market would make it easier for consumers to buy online across Europe. If the Government achieves these reforms, UK mid-market companies in favour of remaining in the EU increases to 77%.”

Mr Gill concluded: “The vote on Thursday remains uncertain but it is clear that for many of these Scottish companies it is a vital decision which could make a serious difference to the way in which they operate in the future.“

The data is part of BDO’s New Economy campaign which includes a set of policy proposals developed by BDO aimed at putting the entrepreneurial mid-market at the heart of the UK’s economy. The full set of BDO’s policy proposals can be found at

Meanwhile, the CBI said as many as Scottish 250,000 jobs were already linked to the single market and tens of thousands more would be created if voters reject a Brexit.

CBI’s total for the additional employment in the event of the UK staying in the EU includes 12,160 jobs in banking and business sectors, 9,330 in the distribution and retail sector and 9,100 in manufacturing.

CBI Scotland director Hugh Aitken said: “The UK’s membership of the European Union has been of enormous benefit to Scotland for over 40 years.

“Some of the key sectors that lie at the heart of communities across the region, from manufacturing to retail, rely on our membership of the single market.

“Virtually every economist agrees that leaving the EU would likely cause an economic shock, damaging Scotland’s prospects.

“We’d not only put a dent in what we have now, we’d also miss out on thousands of jobs in the near future as a result of losing access to the single market, pulling the rug from under our local economy.

“This is why the majority of businesses want the UK to remain inside the EU, to best drive growth, support and create jobs, and increase prosperity for our region.”

www.bdo.co.uk/neweconomy