More than half of high net worth individuals and business owners are optimistic about the future of the Scottish economy, according to new research from Rathbones.
The investment management firm revealed that 59% were optimistic about the state of the economy over the next 12 months, while 44% said that the easing of restrictions was a key driver behind the relative strength of the Scottish economy.
During February, Censuswide surveyed 504 high net worth individuals - those with over £250,000 of investable assets - and business owners across Scotland.
More than a quarter of Scottish businesses have been able to expand during the pandemic, with a third of businesses in Orkney and Shetland having done so - followed by those in Dundee, Perthshire and Angus.
Some businesses adapted their business models, with many moving to online sales in order to generate income, while 16% founded a new business during the last 12 months.
However, 37% reported that their business had suffered during the coronavirus crisis.
The ongoing social restrictions have forced large numbers of businesses to close over the last year, with businesses in retail, leisure and hospitality most impacted.
Simon Dewar, regional director at Rathbones, commented: “The past 12 months have been difficult for businesses across Scotland with every organisation needing to adapt to some extent due to the pandemic.
"However, the impact has been disproportionate with some businesses severely financially impacted."
He added: “It’s clear from our research that Scottish businesses are largely optimistic for the future, with a high proportion expecting a positive outlook for the economy in the next twelve months.”
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