SMALL and medium-sized Scottish businesses which are failing to invest in their future could be missing out on their share of the economic recovery, writes Iona Bain.

Research produced by HSBC Commercial Bank found that one third of SMEs in Scotland will shy away from making positive investment decisions this year.

The bank urged risk-averse businesses not to sit still and to start planning for growth to capitalise on an improving recovery in years to come.

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The Ambitious Businesses report revealed that micro businesses have seen an average rise in revenues worth £30,000 this year as the economy has picked up the pace.

Small businesses have typically reported an £80,000 surge and for medium-sized businesses, the figure has been £440,000.