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Almost 60% of firms could be up and running within a week of lockdown ending

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More than half of Scottish firms (58%) can be up and running within a week of lockdown relaxing or ending altogether.

That was among the key findings of a survey by the Scottish Chambers of Commerce (SCC).

But the study also revealed a vast majority of businesses continue to fear for their survival, with 87% citing lost income as their biggest concern if the economy does not start to open back up over the next two months.

And more than two-thirds (69%) of the 444 firms questioned said they needed clear government guidance and support to help them come out of lockdown.

A majority (54%) indicated the need for further direct financial support and half highlighted a need for contingency plans for potential further lockdown.

More than one in five businesses (22%) said they faced imminent collapse within two months, while 43% feared they would not be able to survive if lockdown conditions persisted.

SCC chief executive Liz Cameron said: “Scottish businesses are bruised and it is still the case some are likely to fail.

“But those that are ready and able to get back to work are showing some signs of confidence they could make it through.

“What is clearly needed now is guidance, specific to sectors, on how to return to work in a way that is safe for employees, customers and the wider population.”

She added: “This survey shows that support from the range of schemes launched by both the Scottish and UK governments is having an impact.

“However, as well as a need for guidelines, there is still demand for continued support to ensure that businesses lead us out of this economic collapse as soon as conditions permit.

“Direct support to ensure employment doesn’t collapse is important, but government should also be focused on areas such as infrastructure investment, childcare and skills development.”

The survey showed the coronavirus job retention scheme was by far the most used form of government support, with 65% of firms having accessed it.

Ms Cameron said: “Recent moves to extend the popular furlough scheme were welcome but there are still concerns for businesses, particularly those in rural areas or those reliant on tourism, whether the extension is enough.”