High level of business optimism among Glasgow-based business community

Almost half (47%) of local business people say they are optimistic about the regional Glasgow economy - only 5% are pessimistic. A third (34%) think business sentiment will improve over the next 12 months - only 7% are negative on prospects

Three-fifths (60%) believe exporting and international trade are important for local business success

To showcase its support for businesses in Glasgow and the surrounding region, Santander Corporate & Commercial is bringing its Breakthrough Red Box week-long business event to Glasgow from Monday 25 April to Friday 29 April

Well-known local personalities such as Geoff Ellis (T in the Park), Tony Stanger (Scotland Rugby’s joint leading try scorer) and James Rusk (one of Glasgow’s leading restaurateurs) will also be participating

Glasgow’s business community is strongly optimistic about the region’s economy and its outlook for the next 12 months according to a survey1 of local professionals by Santander Corporate & Commercial.

The poll found almost half (47%) are optimistic about the regional Glasgow economy, with only 5% pessimistic, while a third (34%) think business sentiment will improve over the next 12 months – only 7% are negative on prospects. In addition, nearly half (46%) are positive on the prospects for local employment, with one-in-ten (11%) very optimistic and 12% negative.

The research of local business sentiment was conducted to support Santander Corporate & Commercial’s Breakthrough Red Box week-long business event taking place in Glasgow from Monday 25 April to Friday 29 April.

The event will showcase the best of the Glasgow SME sector and also Santander Corporate & Commercial’s extensive support for businesses in the region. The five-day event consists of free-to-attend masterclasses and focussed events aimed at ambitious business owners and local entrepreneurs.

The venue for the festival – Santander’s Breakthrough Moments Box – is a versatile space for the business community to meet and share ideas and expertise with a range of stakeholders, and a number of local and UK businesses will be on hand to share their own success stories and insights.

Participating firms and organisations include the University of Strathclyde; Scottish Business Resilience Centre; HR specialists Peninsula; gourmet sandwich makers Piece; digital work platform LifeWorks and the National Farmers Union. Well-known personalities will also be participating such as Geoff Ellis (T in the Park), Josh Littlejohn (Social Bite & Brewgooder), Tony Stanger (Scotland Rugby’s joint leading try scorer of all time) and James Rusk (one of Glasgow’s leading restaurateurs).

Helping local Glaswegian firms to export and trade internationally will be a big focus for the five-day event. The local business sentiment survey found that three-fifths (60%) of respondents believe exporting and international trade are important for local business success. Just one in ten (11%) don’t see exporting and international trade as important to the success of local businesses.

The Santander Breakthrough Box event in Glasgow is the first venue of the 2016 UK tour to key towns and cities.

Graham Silcock, Regional Director, Scotland, Santander Corporate & Commercial, said: “It is great to see that Glasgow-based SMEs and business professionals are clearly confident about the future, are positive on local employment and see exporting and international trade as key to the success of local businesses. It is encouraging to see such positive sentiment among business owners who are so influential on the local economy as well as the Scottish and UK economies too.

“Santander has been growing its own presence in Glasgow and we believe that with services such as our Breakthrough product, the Trade Portal and our growth capital lending programme, we are offering a highly differentiated service for businesses.”

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Notes to editors

1 Source: Research conducted among 123 SME and business owners and people set to attend to the Big Red Box festival from Glasgow via an online methodology

Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its 1|2|3 products for retail customers and relationship banking model for UK SMEs. As at 31 December 2015, Santander UK was one of the most switched to banks. The bank serves more than 14 million active customers with c. 20,000 employees and operates through 857 branches and 70 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.


About Us
Banco Santander (SAN.MC, STD.N, BNC.LN)
 is a leading retail and commercial bank, based in Spain, with a meaningful market share in 10 core countries in Europe and the Americas. Santander is the largest bank in the euro zone by market capitalization and among the top banks on a global basis. Founded in 1857, Santander had EUR 1.51 trillion in managed funds, 13,000 branches and 194,000 employees at the close of 2015. In 2015, Santander made attributable profit of EUR 5,966 million, a 3% increase with respect to the previous year.

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