Most Scottish small and medium-sized enterprises (SMEs) believe they would be successful if they applied for a bank loan to fund their investment plans, new research shows.
Three in five feel confident they would be accepted, according to Clydesdale Bank.
More than half (56%) said they would feel even more confident about approaching their lender for new borrowing to fund investments, such as recruiting new staff, or purchasing equipment and premises, if their bank were to ring-fence money to help their business.
Clydesdale Bank’s research, which surveyed more than 850 SMEs across the UK, including 223 in Scotland, suggests investment in new equipment, premises and staff are now top of their priority lists.
While some caution still remains, more than one-third (40%) of businesses said they were more likely to invest in growth opportunities than they were a year ago, pointing to increased confidence in themselves and the economy.
Nearly half (43%) said there were more opportunities for them to grow, compared with a year ago.
Scott McKerracher, east of Scotland director of business and private banking, Clydesdale Bank, said the survey showed SMEs are increasingly confident the economy is moving in the right direction, but some caution still remains.
He added: “We’ve listened to businesses to understand not just the challenges they face but what they feel are the opportunities which are presented in a growing economy.
“At the moment, businesses are viewing the economy with increasing levels of confidence and preparing themselves for the opportunities which come about as a result.
“To take advantage of the improving conditions, many businesses are innovating, investing in new staff, expanding or purchasing their own premises and entering new markets.
“We’re doing the same. We’re investing in our business so we can help our customers invest in theirs.
“We’ve developed a range of customer initiatives to help free up cash to support their growth, from extending the term of existing loans to providing capital free periods and making it easier for firms to purchase their own premises.”