THE economic contribution made by small and medium-sized enterprises (SMEs) in Glasgow and Edinburgh has been forecast to rise by 18 per cent in both cities been 2016 and 2025.

Glasgow SMEs are expected to increase their contribution to the economy to £6.1 billion from £5.2bn over the period, according to research commissioned by Hampshire Trust Bank, while the contribution made by their counterparts in Edinburgh is expected to grow to £5.2bn from £4.5bn.

The research, carried out in partnership with the Centre for Economics and Business Research (CEBR), revealed that, for the UK as a whole, the contribution made by SMEs to the economy will leap by 19 per cent between 2016 and 2025.