On Sept. 18, 2014, Scotland will either continue to suffer under the United Kingdom or hopefully gain its rightful independence. Independence will grant Scotland greater control over regulation, taxation and security, which will create more opportunities for growth and thus improve Scotland’s economy.

In the U.K., the Scots are outnumbered ten to one, making it unlikely for a Scottish political party voted for in the U.K. general election to successfully represent Scotland’s needs. Independence means that decisions formerly made at Westminster will be in Scotland’s hands, granting them opportunities such as improving childcare and cutting down energy bills.

Independence will also allow Scotland to implement a Scottish tax system catered to their own country. Scotland has healthier public finances compared to those of the U.K., making it unnecessary to raise the general rate of taxation. In terms of personal taxation, an independent Scotland plans to both abolish the Shares for Rights scheme (in return for shares, employees surrender rights allowing for tax avoidance opportunities) and to simplify the tax system in order to reduce items, such as compliance costs.

An independent Scotland would be free of nuclear weapons and would maintain defense forces appropriate to Scotland. This would allow Scotland to save a portion of its current defense contribution to the U.K. and to maintain necessary levels of defense spending in order to build a focus on maritime capabilities and to increase regular and reserve personnel numbers. Scotland also plans to speedily and safely remove the U.K.’s nuclear deterrent—the current Trident fleet of four submarines from their base on Faslane—and to negotiate to rejoin NATO.

While a successful Scottish separatist movement will benefit Scotland, some argue it might not have such positive effects on us in the States or around the world. There are many concerns regarding their independence, including the future of their currency, their position in the European Union, and the control of their exports, specifically their oil.

After a “yes” vote, Scotland will continue to use the pound and plans to enter into a formal currency agreement with the U.K. government. Alex Salmond, Scotland’s First Minister, was firm that even without a pact they would continue to use sterling, as it is an international tradable currency. However, all three political parties, the Labour Party, the Conservative Party and the Liberal Democrats, are reluctant to enter a Euro-style currency union, which Salmond believes to be a bluff and still insists that Scotland will keep the pound “come what may.”

Scotland will also remain in the European Union after appropriate negotiations are made between the date of the referendum and the proposed date of independence on March 24, 2016. This will give Scotland a seat at the table and a voice in Europe’s future.

According to BBC News, North Sea oil revenues are estimated between £6.8 billion and £7.9 billion for 2016-2017. This revenue could benefit communities, as the Scottish government has no plan to increase the tax burden on the oil industry. It also plans on retaining a single U.K.-wide market for electricity and gas. By securing funds in the North Sea, the U.K. will continue to benefit from the oil while Scotland will receive the revenue it deserves.

International concerns regarding Scotland’s independence undoubtedly begin in Europe but they are also voiced here in the states. While other members of the U.K. believe that breaking up the map will have detrimental effects regarding Scotland’s relationship with the U.K., President Barack Obama also worries about our relationships. In fact, Obama urges Scotland not to break apart “one of the closest allies we’ll ever have.” White House press secretary, Josh Earnest, confirms that Obama wants Britain to remain “strong, robust, united and an effective partner of the United States.” Clearly many issues need to be ironed out regardless of how the referendum turns out; however, time to weigh pros and cons is running thin and the only question that remains is will Scotland become an independent country and leave behind England, Wales, and Northern Ireland? And ultimately, only the 4 million registered voters and residents of Scotland will be able to decide.