On the eve of the Scottish Parliament’s Stage One debate on the 2012-2013 Budget, the Scottish Trades Union Congress (STUC) is publishing research into the relative performance of Scotland’s very small firms since the Small Business Bonus Scheme (SBBS) was introduced in 2008.
Grahame Smith, STUC General Secretary said:
“STUC analysis of BIS figures shows that, despite the extravagant claims of the SBBS’s many vocal advocates, the performance of Scotland’s very small businesses relative to their counterparts in England, Wales and Northern Ireland has actually deteriorated since this expensive scheme was introduced. It is simply not having the desired effect on growth and jobs.
“The STUC is calling for further research to determine the full impact of the scheme and for future funding to be focused in areas such as the Scottish Investment Bank and Research & Development incentivisation. If significant sums of money are being spent in the name of economic development, it is only fair to expect the investment to genuinely expand the capacity of the Scottish economy to grow in the longer-term.
“Given previous experience, the STUC assumes that some organisations will read this report as an ‘attack on small businesses’. It is nothing of the sort. Our analysis is intended as a positive contribution to the ongoing debate over the development of the Scottish economy. If others disagree with our findings it is incumbent on them to produce evidence which supports their position; something the SBBS’s advocates have singularly failed to do”.
For further information contact Stephen Boyd 0141 337 8100