Increasing numbers of Scottish businesses are facing financial distress, according to new figures released by the national Accountant in Bankruptcy (AiB).
The AiB has said it received 361 notices from Scottish businesses in the second quarter of this financial year (July, August and September) indicating that they were becoming insolvent or entering receivership. The figure was some 46 per cent higher than the figure for the previous year.
A spokesman for the Scottish Government said that the news was concerning, but that they were going to continue with their programme of business aide and initiatives, to try to help the companies that find themselves at risk.
"The Scottish Government is maintaining the most generous package of business rates reliefs available anywhere in the UK, worth on average more than £500 million per annum over the 2010-15 revaluation cycle and tens of thousands of businesses are benefiting from the Scottish Government's small business bonus scheme," the spokesman said.
He added that the devolving of further economic powers would allow Scotland to focus on its economic recovery, without the risk of being "derailed by Westminster's wrong-headed" financial decisions.
He explained, "Control of the main economic and financial levers, such as corporation tax and borrowing powers, would allow us to maximise our economic potential."
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