Majority of European Businesses say Scottish Independence will have no impact on their business

But a third believe it would encourage further separation in Europe

·         90% of European businesses say that if Scotland left the UK it would have no impact on their business. Of those who believe it would impact their business 85% say the effect will be negative not positive

·         31% believe if Scotland became independent other regions in European countries would follow

·         And 27% believe more countries becoming independent would have a negative impact on their business 

Statistics published today by The European Business Awards and RSM International, lead sponsor of the awards and the world’s seventh largest global audit, tax and advisory network, show that 90% of European businesses believe that Scottish independence would have ‘no impact’ on their company, with one in ten businesses stating it would. Of the 10% remaining, 85% said it would have a negative impact with 15% saying a positive impact would follow.

Additionally, 31% of all businesses surveyed said that if Scotland gained independence they believe other regions in other European countries would move towards independence, as is already being seen in Catalan, Spain. 27% felt this would have a negative impact on their business.

350 companies from all business sectors in 33 countries across Europe, who are currently entered in The European Business Awards for 2014-15, responded to the survey regarding the effect of a potential separation of Scotland and other countries in Europe.

Adrian Tripp, CEO of the European Business Awards said: “Whilst the majority see little impact for their business if Scotland became independent, the wider repercussions are more strongly felt. The responses clearly show that many businesses believe a break-up of Europe in the current climate would be seen as a threat to its global position.”

Jean Stephens, CEO of RSM International, said: “While European companies report that Scottish independence won’t have an immediate impact on them, there is a real concern among a significant chunk of businesses about the knock-on effect on the stability and competitiveness of the continent.  Europe remains in a precarious economic position and both governments and businesses would need to work very carefully to minimise potential repercussions resulting from an independent Scotland.”

The businesses that believe there would be a negative impact from Scottish independence cited unanswered questions around the currency, additional infrastructure costs and trading issues as key reasons. The companies who felt it would be positive (all based outside of the UK) felt it could open up potential business opportunities as a new market.

The main reasons for the belief of a negative increase if more regions became independent countries are an impact of the global competiveness of Europe, potential barriers to free trade and increased regulation. Only 4% of businesses felt it would have a positive impact and again stated new market business opportunities as the basis of this.

The European Business Awards, now in its eighth year and sponsored by RSM since its inception, was set up to recogniseand reward excellence, best practice and innovation in companies of all sizes and sectors across the European business community.

For further information about the competition and/or RSM please go to www.businessawardseurope.com or www.rsmi.com

ENDS

For further information, please contact:

Gillian Hawkes, RSM International

Tel: +44 (0)20 7601 1092 / gillian.hawkes@rsmi.com

Vanessa Wood, European Business Awards

Tel: ++44 (0)796 6666 657 /  vanessa.wood@businessawardseurope.com

Rose Schreiber, Cubitt Consulting:

Tel: +44 (0)20 7759 1194 / rose.schreiber@cubitt.com

NOTES TO EDITORS:

Questionnaire results

Q1: If Scotland left the UK do you think it would have an overall positive of negative impact on your business?

Positive: 1%
Negative: 9%
No Impact: 90%

Q2: If Scotland left the UK do you think other countries/regions would follow across Europe and more towards independence?

Yes: 31%
No: 33%
Don’t know: 36%

Q3: If more countries/regions became independent across Europe do you think it would have an overall positive or negative impact on your business?        

Positive: 4%
Negative: 26%
No difference: 70%

About the European Business Awards 2014/15:

The European Business Awards recognises and rewards excellence, best practice and innovation in companies across Europe. The competition is free to enter and open to organisations of all sizes and from any industry sector.

The European Business Awards programme serves three purposes for the European business community:

•             It provides examples for the business community to aspire to

•             It celebrates and endorses individual’s and organisation’s success

•             It provides case studies and content for learning from these exceptional organizations

An innovative, strong and thriving business community makes a successful and prosperous Europe. www.businessawardseurope.com.

About RSM International

RSM International is the seventh largest network of independent audit, tax and advisory firms, encompassing over 110 countries, 700 offices and 35,000 people internationally. The network’s total fee income is US$4.2 billion.

RSM International is the lead sponsor and corporate champion of the European Business Awards promoting commercial excellence and recognition of entrepreneurial brilliance.

RSM International is a member of the Forum of Firms. The objective of the Forum of Firms is to promote consistent and high quality standards of financial and auditing practices worldwide.

RSM is the brand used by a network of independent accounting and advisory firms each of which practices in its own right. RSM International Limited does not itself provide any accounting and advisory services. Member firms are driven by a common vision of providing high quality professional services, both in their domestic markets and in serving the international professional service needs of their client base.

2014 marks an exceptional year for RSM International as it celebrates its 50^th Anniversary.

www.rsmi.com