Scottish referendum may impact business By Fear Group on 18th September 2014 M&A and renewable energy projects could be hit by Scottish independence The Scottish referendum could have a drastic effect on both the amount of activity taking place and the value of the businesses being sold,’ says Avondale managing director Kevin Uphill. The declaration comes at the same time that referendum polling began and as business leaders throughout the UK expressed their worries about what could happen if Scotland became an independent country. Growth Business, In The Media