Firms retain appetite for deals in Yorkshire

MORE than half (51 per cent) of businesses in Yorkshire say they are actively planning an acquisition, merger or management buyout over the next 12 months, according to research by Barclays Commercial Bank.

And while more than two thirds (71 per cent) believe business is going to become much more competitive this year, this has not dampened aspirations for growth, with a quarter (27 per cent) saying a merger or acquisition will have the greatest impact on improving their competitiveness.

Lee Collinson, corporate director at Barclays Commercial Bank in Yorkshire said: “Negative predictions are what make the headlines but businesses in the Yorkshire region know the reality is that the economy is still growing; it's just growing more slowly.

“It's encouraging to hear that businesses are confident of their prospects for the year ahead, and with credit still available, we will continue to support businesses that have strong propositions and sound management structures to finance growth. What's more, with the Chancellor's recent decision to make concessions to small businesses over capital gains tax, many successful business owners who had been thinking of selling-up before the 6 April deadline, may now instead look at alternative ways to expand or grow.

“Of course, the current environment is a challenging one and for businesses to protect growth prospects, careful planning is more important than ever. While

the temptation for many may be to tighten belts, carefully targeted investment is required to ensure continued growth in the long-term – and is vital if businesses want to keep rising competition at bay.”