"But with a different regulatory system and a different currency and different pension protections many companies would have no choice but to relocate their businesses cutting jobs in Scotland and damaging our economy."
The stark warning ties in with the revelations of a number of companies' contingency plans in the event of Scotland's independence.
Investment firm Alliance Trust said in its annual statement on Friday it planned to set up registered companies in the UK ahead of the referendum on September 12.
(Read more: Scotland's Salmond: blocking pound will hurt UK)
"The referendum in September is creating uncertainty for our customers and our business, which we have a responsibility to address" Katherine Garrett-Cox, chief executive at Alliance Trust, said in a statement.
"Regardless of the outcome it is critical that we are able to provide continuity of service and protection of their investments and savings."
And earlier this week Scottish insurer Standard Life also revealed it too could shift business South of the border the event of Scotland's independence.
"We have started to establish registered companies to operate outside Scotland,into which we could transfer parts of our operations if it was necessary to do so," David Nish, CEO of Standard Life, said in a statement.
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