Yorkshire has been identified as the second worst place in the country for business growth by a recent survey of business leaders.
The research, conducted by Huthwaite International, found that a lack of sales strategy and negotiations could be to blame.
The sales, negotiation and communication skills developer revealed that businesses in Yorkshire place a greater focus on quick wins to improve the bottom line, such as cost effective purchases (61%), improving productivity (56%) and reducing fixed costs for the business (55%), rather than investing in training and implementing a systematic approach to negotiations, which are proven to be effective tactics.
Often overlooked by even savvy businesspeople, just 34% of businesses in Yorkshire currently implement a systematic approach to negotiation across the business, despite Huthwaite finding that businesses that adopt this approach experience, on average, 42.7% greater growth than those that don’t.
Tony Hughes, CEO at Huthwaite International, said: “Effective negotiation is crucial as a means to improve margin, so it’s very surprising that 34% of businesses in Yorkshire don’t take a systematic approach to their sales and negotiation strategy.”