Thursday, April 22, 2021

Yorkshire businesses back pace of lockdown easing

The majority of Yorkshire businesses support the pace of easing lockdown restrictions, according to the latest data from Lloyds Bank Commercial Banking research, with two-thirds ready to operate at close to full capacity when COVID-19 restrictions are lifted from Monday, 12 April.

When asked whether their business would have preferred or benefitted from a different pace of easing, 53% said they preferred neither a faster nor slower easing of restrictions.

However, a net balance of 37% of firms said they would have preferred a faster route out of lockdown and just 10% said they would have preferred a slower easing of restrictions.

The majority of those questioned (64%) said they will be able to operate at 80% capacity or more when restrictions for their sector are lifted.

The results of the research come a week after Lloyds Bank’s Business Barometer research revealed that national UK business confidence reached a one-year high during March, with a quarter (25%) of firms saying they were planning to create new jobs in the 12 months ahead.

In Yorkshire, business confidence rose eight points month-on-month to reach 12%, its highest reading since March 2020.

Steve Harris, regional director for Yorkshire at Lloyds Bank Commercial Banking, said: “It’s clear that Yorkshire firms have been buoyed by the increased certainty provided by the roadmap out of lockdown, with many able to resume trading in the next few weeks.

“The coming months will be critical to the nation’s recovery from the impact of the pandemic, and we will ensure that the region’s businesses have the tools and support they need to build back better.”

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