By Daniel Hunter

The Scottish independence referendum had damaged 'Brand Britain' by 21%, according to the ICM Group.

Whilst most Britons think the result is positive for Scotland (63%) and Britain (59%), the Scots are less positive about the outcome, and are more than twice as likely to believe that it is bad for Scotland (37%).

A fifth of those surveyed (21%) said the so-called 'Brand Britain' had been damaged. Ten percent of Britons believe that brands should no longer use ‘Britain’ or ‘British’ in products and services sold in Scotland and the rest of the UK.

Lack of clarity over Scotland’s future in the UK may lead people to be increasingly cautious about which companies they choose to save and invest their money with: one fifth (22%) said ongoing uncertainty about Scotland’s future will make them less likely to invest or save with a Scottish based bank, building society or other financial services company. Although just 5% of those in Scotland say this is the case, the figure is as high as 24% in England and 16% in Wales.

Londoners are particularly concerned about the impact of the result. One third (33%) say that the result has damaged the Scottish brand, and more than a quarter (27%) say that the British brand has been harmed. The corresponding figures across England are 28% and 22%. By contrast, Scots are less likely to be concerned: just 16% believe that either the Scottish brand or the British brand has been damaged.
People living in the capital are also more likely to say that granting the Scottish Parliament more powers risks further uncertainty among consumers and retailers. More than one third (36%) said both consumers and retailers will suffer further uncertainty as a result of more devolution.

Gregor Jackson, Research Director, ICM Research said: “A 10 point margin might have provided a definitive result on election day, but evidently not all consumers feel as confident about the impact of the outcome given the closeness of the margin. The British public, in particular those south of the border, see an impact on business and brands — both Scottish and British. Scotland’s financial sector looks likely to be the hardest hit.”

Do you think the referendum damaged 'Brand Britain'? You can email your reactions to editor@freshbusinessthinking.com

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