Mid-sized businesses committed to Remain ahead of Thursday’s vote

Over two thirds (69 per cent) of Scottish mid-sized businesses are committed to remaining in the EU after an “uninformative and lacklustre” Leave campaign, according to a new poll published by business advisory firm BDO.

The poll, which surveyed 39 companies in Scotland (over 600 across the UK) with revenue of between £10m and £300 million, found that 69 per cent of Scots firms wanted to remain in Europe with 79 per cent stating that leaving the EU would make for a less conducive business environment.

The firms felt the campaign has been poor and uninformative and made no difference to their position. Ninety-five per cent said that the campaign had made no difference to their intentions with 62 per cent stating that they felt the level of debate was of poor quality and made no difference to their decision.

The mid-market is politically and economically important to the UK. These firms account for a quarter of private sector jobs - employing six million people across the UK - and generate revenue of £1 trillion each year.

Commenting on the poll findings, Martin Gill, head of BDO LLP in Scotland, said: “It probably comes as no surprise to learn that business owners have found the EU referendum campaign uninspiring. For the Scottish owners of these very important firms, however, the vote is likely to be critical. Exports and international trade are essential to the Scottish mid-market.

“These firms are entrepreneurial, have high-growth targets and are focused on international expansion so it’s no surprise that, with two days to go until the vote, the majority of these businesses support remaining within the European Union.”

He added: “Despite being in favour of staying, mid-market firms do want further changes to the EU. Over half (51 per cent) of mid-sized businesses call for a greater focus on improving the EU’s worldwide trade agreements, such as the EU-US Transatlantic Trade and Investment Partnership, and negotiations with high-growth markets, such as India.

“A third (34 per cent) of the mid-market also want to see liberalisation of markets to further simplify international trade – the creation of a digital single market would make it easier for consumers to buy online across Europe. If the Government achieves these reforms, UK mid-market companies in favour of remaining in the EU increases to 77 per cent.”

Mr Gill concluded: “The vote on Thursday remains uncertain but it is clear that for many of these Scottish companies it is a vital decision which could make a serious difference to the way in which they operate in the future.“