The prime challenge facing Scottish businesses today is the threat of a cliff-edge Brexit without a transition period and with no deal. A cliff-edge Brexit would be catastrophic for businesses and families and do longterm damage to the economy, leaving the UK poorer and less competitive. However, while Brexit has rightly dominated the political and economic agenda, businesses urge government not to lose sight of the important domestic agenda.
The longer-term concern for the Scottish economy is the need to ensure the private sector fires on all cylinders to grow the economy in response to a prolonged period of weak economic growth, a considerable demographic challenge and a volatile global trading environment.