The result of Scottish independence referendum came out last week with 55.3% votes for NO. (Theguardian)

After reading Jiawei‘s blog, as he said, if Scotland itself becomes a country, it should take a long time to adjust changes and find ways to solve unpredictable situations. I strongly agree with this point of view since a new country has to create better and suitable policies so to become a country with completed system among aspects like economy, politics and so on. Actually, although countries like China or the UK, which have been established for a long time, they still have to put effort into the perfection of policies.

Despite what he said, in my opinion, the independence will affect the whole society. Business will be one of the victims.

Because Scotland has a large amount of natural resources, such resources can be exported and contributed to the country’s GDP. However, once Scotland separated from the UK, its GDP will decrease. A recession in economy and an uncertainty of future profits will reduce the funds paid by investors. Businesses will be at risk since they need to face the shortage of funds and higher raw material costs (in this case, there is a raise in prices of imports due to the depreciation of GBP value). The independence will also limit the number of cheap labors from Scotland that a British business can hire. Cost of production goes up again.

All in all, I have to say, to some extent, the failure in Scottish independence referendum actually helped Britain escape from a business and economic turmoil.