" class="no-js "lang="en-US"> 57% of Scottish SMEs Not Confident About Chances of Surviving
Monday, October 03, 2022

57% of Scottish SMEs Not Confident About Chances of Surviving the Next 2 Years

New data from Klarna, the leading global retail bank, payments, and shopping service, has revealed that over half (57%) of SMEs in Scotland are not confident about the future of their business over the coming 24 months.

The findings come from Klarna-commissioned research, surveying over 500 senior managers at SMEs. The research looked at specific issues SME leaders have faced during the COVID-19 pandemic. Worryingly, it found that 56% of businesses have said their goal for the following 6 months is simply to survive.

Scottish businesses have been hit particularly hard by the pandemic, with 69% of SMEs stating COVID-19 led to a longer term negative impact on their business. At some point, 41% of Scottish SMEs did not believe they would survive. Although signs of recovery emerge, returning to pre-pandemic growth levels will be challenging. So far, 84% of Scottish SMEs do not believe that their business has fully recovered from the impacts of the pandemic.

Klarna has recently launched a new £3m Small Business Support Package and Accelerator Programme to help UK SMEs recover from the pandemic. The package will help 100 retail SMEs get back on their feet, with the ten-part accelerator programme alongside to help any UK SME receive access to tips and guidance to help grow their business.

To apply for the fund, please head to: https://www.klarna.com/uk/business/small-business-support-package

Applications are open until 8th September.

To attend the Accelerator Program, head to: https://www.klarna.com/uk/business/small-business-accelerator-programme/

Companies In This Post

  1. 55% Of US Investors Are Expected to Move Money Into Individual Stocks in Q4’22 Read more
  2. Fintech Finance Podcast: FF Salon with Nina Mohanty Full Audio Read more
  3. NoFrixion Raises €3.6M to Drive Digital Payments Revolution for Business Read more
  4. Nium Appoints Payments Industry Leaders, Huey Lin and David Yates, to Board of Directors Read more
  5. CBA delivers competitive head start to user banks with SWIFT ISO 20022 readiness Read more
More On