Employees are being helped with rising costs

Business owners in Scotland have been stepping in to help their employees cope with the cost of living despite facing financial pressures of their own. 

Research from Rathbones showed that 44% of Scottish business owners have provided their employees with regular financial support, while a further 22% have given a one-off lump sum to their staff. 

This is despite many businesses, and in particular SMEs, also facing a significant uptick in costs, supply chain issues and the phasing down of the Energy Bills Support Scheme.

Those in the Highlands and Islands were the most generous to staff with half (49%) reporting to have offered regular financial support in the last six months.

Angus Kerr, head of Scotland at Rathbones, comments: “With times tough for many individuals, it’s encouraging to see so many business owners stepping in to support their employees.

“Whether it’s regular financial support or a one-off payment, the help provided by business owners or higher earners will make a real difference in many people’s lives. 

“However, it’s vital that business owners are also protecting their businesses and their personal finances throughout this time too.

“With limited support for SMEs currently available, many could see their costs rise significantly in the coming months.”