This week sees the historic independence vote taking place in Scotland.

We have asked Gwent businesses what outcome they would like to see and how they feel either result will affect Wales.

Paul Byett, managing partner, UHY Hacker Young, Newport

The consequences of an independent Scotland will be disastrous for Gwent businesses due to the uncertainty that it creates. We have spent many years building a cohesive United Kingdom with a mixture of service industry, manufacturing and natural resources. The blend works and that is what makes us the third largest economy in Europe and probably the sixth in the world. Locally we benefit from this in many ways such as a relatively stable landscape with the comfort blanket of the UK government when this stability is disturbed by events such as the banking crisis. We are just starting to climb out of recession in Gwent so uncertainty such as a Scottish independence and worries over interest rate increases could serve to stall our recovery.

Ross Porter, Clearsky Recruitment, Blackwood

I think that there will be a detrimental effect on the UK economy if the Scottish people vote Yes at the forthcoming referendum. It’s a case of my heart says ‘Yes’ but my head says ‘No’, I’m afraid. As much as I admire the Scottish people who want to stand alone for their patriotism and the idea of a an independent country, if they do, it will unsettle the economy. The pound will weaken as more and more businesses lose confidence in the UK market and investment will slow. Interest rates for the rest of the UK could rise as the banking organisations may have to pay more for their money as the financial boat will be rocked. Jobs will be lost in Scotland as major employers have already said they will relocate their businesses if the Yes vote is decided. With all this in mind, I hope the outcome is that Scotland remains part of the UK and perhaps get more authority when it comes to decision making.

Daniel Wilde, partner, HardingEvans Solicitors, Newport

I very much hope that Scotland says no, as the UK has a stronger voice politically and from a business perspective if the UK stays together. While the sky will not fall in if there is a ‘yes’ vote, equally there will be significant changes in the political dynamic in the UK if Scotland leaves. Whatever happens, the devolution genie is not going to go back in its bottle now and I can see a strong push for more devolution powers in Wales and also England. I think if more powers are pushed to the Scottish and Welsh parliaments then there will be a strong clamour that Welsh and Scottish MPs should not be allowed to vote on matters that only touch upon England. Only time will tell if more devolution is good for business. More Government tends to result in more laws and red tape.

Dan Smith, M4 Property Consultants, Newport

Here at M4 property consultants we are passionately welsh. However, we believe there are advantages to being part of Great Britain and feel both Scotland and Wales should remain within it. We feel if Scotland were to vote yes for independence, it could awaken similar hopes from Welsh nationalists for Welsh independence. In turn, this could lead to uncertainty within the Welsh economy. We remain in a fragile economy showing small steps towards a recovery, uncertainty as to whether Wales would remain part of Great Britain if Scotland were to become independent could damage the recovery and the welsh economy in the long term. For these reason we are hoping Scotland will vote no at the referendum.