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Scottish businesses struggling in crunch

Nov 06 2008

Scottish businesses are not helping themselves in the credit crunch as 30 per cent do not advertise their firm and over a quarter do not ask for advice, both the highest rates in the UK, according to BT Tradespace.

Research from the social networking site found Scottish companies are the second worst-off in the UK in being affected by the credit crunch, beaten only by the south-west.

The survey of 200 small businesses found 54 per cent of firms north of the border were badly affected by the current economic situation.

Ivan Croxford, managing director of BTTradespace.com, says the figures show Scottish businesses are 'really feeling the pressure' at the moment and to survive they must truly stand out against their rivals.

'This means not only running your company more efficiently, but also making sure your voice is heard by the audiences that matter to your business,' he adds.

More than one in five Scottish firm owners also reported only using friends and family to gain advice, while 26 per cent said they do not get help from anywhere.

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