Yorkshire and the Humber recorded the strongest business confidence of any UK nation or region in the UK in March, according to the latest Business Barometer from Lloyds Bank Commercial Banking.

Companies in Yorkshire and the Humber reported higher confidence in their own business prospects month-on-month, up 33 points at 70%. When taken alongside their optimism in the economy – up 25 points to 50% – it gives a headline confidence reading of 60% (vs. 31% in February).

A net balance of 48% of businesses in the region expect to increase staff levels over the next year, up nine points on last month.

Looking ahead to the next six months, the region’s businesses identified their top target areas for growth as investing in their team, for example by hiring new staff or investing in training (50%), evolving their offering, for example by introducing new products or services (39%) and introducing new technology, such as AI or automation (39%).

The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.

National picture

Overall UK business confidence registered 42% in March, the same as in February, as firms’ confidence in their own trading prospects (49%) held steady, and confidence in the economy strengthened by one point (35%).

The North East (56%) was the second most confident UK region or nation in March after Yorkshire and the Humber, followed by London (52%).

Sector insights

Services confidence fell 5 points to 40%, the first decline since December. That drop, however, was offset by rises in confidence in the manufacturing, retail and construction sectors.

The gains in manufacturing (up 1 point to 41%) and construction (up 2 points to 40%) were relatively modest and confidence remained below levels seen at the start of 2024. Firms in the retail sector reported improved confidence (up 5 points to 45%), which was the strongest result for over two years.

Steve Harris, regional director for Yorkshire and the Humber at Lloyds Bank Commercial Banking, said: “Not only are many Yorkshire businesses seeing bright spots in the economy, but most are also confident that their own prospects will improve, even if headwinds persist – a testament to the region’s resilience. We could see optimism climb even higher if positive trends like slowing inflation continue over the coming months.

“As firms look to capitalise on this confidence, we’ll be by their side with our funding and support – whether it’s to back the investments in their team that so many have planned, or to help businesses capitalise on potentially transformative technologies.”

Lincoln-based Lindum Group has been appointed to carry out improvements to the town centre of Sutton in Ashfield in Nottinghamshire. Work is due to start next month on a derelict site to make it a flexible outdoor space not only linking pedestrians from ASDA to the town centre, but also to be a venue for markets and events. Lindum Group MD Edward Chambers said: “Our previous projects with the council together have included the creation of Moor Market in Kirkby and construction of more than 60 new energy-efficient homes across the district. “We’ve been working with the authority on this scheme since mid-2023 to help find the most cost-effective way to deliver the works, which will make a huge difference to the town centre, and ultimately provide a much-needed boost to the local economy.” The site is currently a disused wasteland. The transformative works will see a 41-space car park created with new lighting, CCTV and native trees and hedging planted to enhance biodiversity. The River Idle, which runs through the back of the site, will be cleaned, and restored, providing a natural focal point. The works to Fox Street are being funded by Ashfield District Council’s £6.27million Future High Streets Fund. Councillor Jason Zadrozny, Leader of Ashfield District Council, said: “We can’t wait to see this project begin. The Fox Street site has been an eyesore for a long time and our renovation works will breathe life into it, creating a space that can be used for events and markets – capitalising on the natural footfall in this part of Sutton. Ashfield District Council’s plans for the entire District are revolutionary and will create a lasting impact on Ashfield; a great place to live, visit, work, and play.”

Northern Rail’s training academies in Leeds and Manchester are key to addressing the national skills shortage facing the rail industry, according to a new report by OFSTED.

The regulator made the statement following an inspection of both facilities in which the quality of the education provided and the behaviour, attitudes and apprenticeship offering were found to be ‘Outstanding’.

Personal development, leadership and management were, meanwhile, declared ‘Good’, which was also the grade awarded for ‘overall effectiveness’.

OFSTED’s report goes on to say that apprentices at Northern benefit from a wide range of career and development opportunities for those who aspire to become managers and leaders within the company.

Lisa Leighton, people director at Northern, said: “I would like to pay tribute to my colleagues who support with on-the-job operational training, helping hundreds of apprentices graduate every year.

“Each and every one of those graduates has the potential to be an industry leader of the future – bringing their skills, talent and ideas to the table.

“The rail industry is an exciting sector to be a part of and there’s no better grounding for a successful career than an apprenticeship, which combines classroom learning with on-the-job experience.”

Northern was officially recognised by OFSTED as a ‘Main Provider’ on the national register of apprenticeships in July 2022. That status enables Northern to train other train operators’ newcomers in the fields of train driving and passenger transport.

In addition to classroom learning, Northern is increasingly using virtual reality technology to provide ‘real world’ scenarios from the safety of the classroom.

In 2023, Northern became a patron of the Multicultural Apprenticeship Alliance (Powered by Pathway Group) – an organisation that strives to promote social mobility, diversity, inclusion and equity in apprenticeships.

For more information about apprenticeships available with Northern, please visit: www.northernrailway.co.uk/careers/early-careers/apprenticeships.

Northern is the second largest train operator in the UK, with 2,500 services a day to more than 500 stations across the North of England.

New analysis by the Centre for Local Economic Strategies (CLES) and the Women’s Budget Group (WBG) has found that the cost of the barriers to paid work encountered by women – such as caregiving responsibilities, gender bias in recruitment and attitudes towards ageing – has risen by seven per cent in the last year, meaning that nearly £100bn GVA is lost to the economy in England, Scotland and Wales annually. The analysis was released to coincide with the publication of findings from a joint research project from the two organisations, which was launched (Friday, March 22) during an event at the Platform building in Leeds city centre. At the event, the Mayor of West Yorkshire, Tracy Brabin, shared her thoughts on the findings of the report, Women’s Work, hailing them “important but terrifying.” Women’s Work has seen CLES and WBG partnering with Leeds City Council to conduct quantitative analysis on the outcomes for women in the city. This was supplemented by focus groups and interviews with diverse groups of women to better understand their lived experiences and the ways in which they can be prioritised in the development and implementation of economic strategies. Dr Zubaida Haque, deputy director and head of research and policy at WBG, said: “Women are often overlooked in local economic decision-making and the local labour market. This report not only highlights the economic and social cost of this exclusion, but also how a gender inclusive approach to local economic decision-making improves both the economic prospects of women and the local and national economy. “Recent reports and data on gender and economic inactivity, and gender and insecure work, also underscore the importance of taking into account the type of work available to women, especially those who are carers. “Low pay, the lack of guaranteed hours and flexible work and ill-health are holding back women’s labour market participation, taking a toll on their mental health, wellbeing and on the economy. You can’t have a healthy economy without healthy people.” Dr Sarah Longlands, chief executive of CLES, said: “For too long we’ve been talking about gender equality as if it wasn’t relevant to the question of how we build strong local economies. This report is about asking a simple question: what more could we achieve in terms of economic inclusion if we put the needs and potential of women at the heart of our decision-making processes? “The analysis we have released today speaks for itself – progress on gender equality has stalled and we need a national effort to reverse the growing level of economic exclusion for women and their families, particularly for women with disabilities, women living in poverty and women of colour. “There is still some way to go on addressing the multiple causes of economic exclusion for women. However, through this work we have been witness to powerful examples of what local authorities and their partners can do, even despite the current challenges they are dealing with. “We hope that this is the start of a new conversation about how we put the needs of, not just women but all marginalised communities, at the centre of economic policy.” Councillor Jonathan Pryor, Leeds City Council’s deputy leader and executive member for economy, culture and education, said: “We are pleased and proud to have partnered with the Centre for Local Economic Strategies and the Women’s Budget Group on this important project, which will help ensure that Leeds has an economy which is not only thriving but also works for everyone. “The council has long been determined to tackle the employment challenges that many women face, with our Inclusive Growth Strategy and existing initiatives such as the Future Talent Plan and Innovation@Leeds funding programme underlining our commitment to removing social, cultural, political and economic barriers of all kinds. “We recognise, however, that there is still much to do when it comes to closing the gender pay gap. Women in Leeds earn an average of £10,000 less per year than men and are seven times more likely than men to be economically inactive due to family caregiving responsibilities. “These issues are not unique to Leeds, but that does not lessen the need to address them. By taking the findings of today’s report and using them to inform our future actions and decisions, we aim to do exactly that.” The paper makes a number of recommendations for local and regional authorities, focused on the strategic approaches needed to underpin an agenda for change, including to commit to placing gender equality at the core of their economic approach, to underpin strategies with detailed baseline analyses and measures of success on gender equality and to establish mechanisms for meaningful engagement with, and accountability to, women. To deliver on these strategic aims, the paper recommends actions on caregiving support, flexible employment, education and progression, community connections and wellbeing support, wealth and autonomy, and representation in leadership. Finally, the report looks to Westminster and points to the significant additional powers to narrow gender inequalities that sit with national government.