The organisation's membership had risen to 350 by the time of its official launch in May 2013, where it was publicly backed by Falklands War veteran and Scottish entrepreneur, Tony Banks.
Tony Banks (Balhousie Care Group),[4] Graeme McCormick (Conveyancing Direct), Ian McDougall (McDougall Johnstone/ The Glasgow Distillery),[4] Gillian O'Neill (29 Studios), Rob Aberdein (Walker Morris), Jil Murphy (Thin Red Line/ Head of BfS Edinburgh), Donald Maclean (Business Cost Consultants), Kenny Anderson (Anderson Construction), David Cairns (PrismTech/ Head of BfS Perth), Sandy Adam (Springfield Properties), Brian Souter (Souter Investments).
Business for Scotland Ltd registered with the Electoral Commission as a "permitted participant" on the Yes side in the 2014 Scottish independence referendum.
Pro-Unionist blogger Kevin Hague[4] put a complaint in to the Electoral Commission to consider whether the SNP and Business for Scotland had worked together during the Scottish referendum.
[11] The Electoral Commission "found no evidence during its assessment that the SNP and BFS worked together" and consequently stated there was no need to open a full investigation into the allegations.