Sunday, September 20, 2020

Confidence bounces back for Yorkshire firms

Business confidence in Yorkshire & the Humber bounced back during December, rising nine points to 7%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.

Companies in the region report higher confidence in their business prospects at 8% and higher economic optimism at 7%. Together, this gives an overall confidence reading of 7%.

Businesses’ hiring intentions showed that a net balance of 4% of businesses in the region expect to hire more staff during the next year. This compares with a net balance of 5% of firms expecting to decrease staff levels last month.

Across the UK, overall confidence edged up one point to 10% as firms’ confidence in their own prospects rose six points to 18%, although their optimism in the economy fell to 2%.

The Business Barometer questions 1,200 businesses monthly and provides early signals about UK economic trends both regionally and nationwide. This month’s survey was carried out before the result of last week’s General Election was known.

Kelly Green, Regional Director for Yorkshire & the Humber at Lloyds Bank Commercial Banking, said: “It’s great to see both confidence levels and hiring intentions returning to positive figures this month – which puts Yorkshire firms on a good footing going into 2020.

“The growth in optimism could be attributed to pre-election hopes of a decisive result that would provide greater clarity on the likely course of Brexit and the economy, allowing  businesses to plan ahead with more certainty.”

Across the region, businesses were evenly split over whether the UK’s exit from the European Union was having a positive or negative impact on their expectations for business activity.

That compares with last month, when a balance of 4% said they felt the UK’s exit from the European Union was having a negative impact.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

£1.1m engineering skills boost for Sheffield

In a national first, teenagers at UTC Sheffield will develop a new range of in demand high-level digital engineering skills following a £1.1 million...

Cable cleat manufacturer expands North Yorkshire headquarters

Cable cleat manufacturer, Ellis Patents, has invested £500,000 in a 25 per cent expansion of its North Yorkshire headquarters. The main element of the expansion...

Time Out: Spencer Coffin, director of Procure Direct

The weekend is just around the corner and that means another ‘Time Out’. This week Business Link talks to Spencer Coffin, director of Procure...

Yorkshire hydroelectric projects acquired

Two hydropower projects in Yorkshire have changed hands as part of a £4.74 million acquisition. The deal sees JLEN, a listed environmental infrastructure fund, swoop...

Leeds med-tech firm raises £2.2m via share placing

Surgical Innovations has successfully raised £2.2 million to reinflate working capital, invest in new product development and sustainability support initiatives. The AIM listed Leeds-based med-tech...

ITM Power part of major hydrogen partnership

Sheffield hydrogen specialist, ITM Power, is one third of a new partnership which aims to use the clean renewable fuel to help Scotland achieve...

Related news

£1.1m engineering skills boost for Sheffield

In a national first, teenagers at UTC Sheffield will develop a new range of in demand high-level digital engineering skills following a £1.1 million...

Cable cleat manufacturer expands North Yorkshire headquarters

Cable cleat manufacturer, Ellis Patents, has invested £500,000 in a 25 per cent expansion of its North Yorkshire headquarters. The main element of the expansion...

Time Out: Spencer Coffin, director of Procure Direct

The weekend is just around the corner and that means another ‘Time Out’. This week Business Link talks to Spencer Coffin, director of Procure...

Yorkshire hydroelectric projects acquired

Two hydropower projects in Yorkshire have changed hands as part of a £4.74 million acquisition. The deal sees JLEN, a listed environmental infrastructure fund, swoop...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close