State of the Region 2013: Businesses back Yorkshire
CONFIDENCE in the strength of Yorkshire as a business region has increased over the last 12 months, according to TheBusinessDesk.com’s State of the Region survey.
And increased bank lending (35%) was identified as having the biggest impact in terms of restoring economic confidence in the region.
This was followed by making tax cuts for both businesses (19%) and individuals (13%) and reducing the state deficit (10%).
TheBusinessDesk.com’s annual State of the Region survey gives a barometer of business sentiment across Yorkshire, the North West and West Midlands.
TheBusinessDesk.com has once again run this milestone project in association with lead sponsor, law firm DLA Piper. The initiative is also supported by Yorkshire Bank and the CBI.
STATE OF THE REGION 2013: DOWNLOAD AN IN-DEPTH REPORT OF THE FINDINGS HERE
Although 64% of survey respondents said Yorkshire was still a good place to business, the figure was well down on the 96% who gave the same answer in 2009.
Of the remainder, 6% said they didn’t think Yorkshire was as good a place as other regions to do business, while 30% said it was but wasn’t as strong as other UK regions.
Almost half said they didn’t know whether local enterrise partnerships were having a positive impact. And the same goes for the much-heralded enterprise zones with 53% unsure about their effect on growth.
Commenting on the findings, Jon Kenworthy, partner in DLA Piper’s corporate team in Sheffield, said: “This year’s survey shows a moderate increase in confidence in Yorkshire as a business location. Sixty-four per cent stated that the region is a good place to do business, compared with 52% last year. However, views are more divided on Local Enterprise Partnerships (LEPs) and enterprise zones.
“Last year, just under fifth of businesses surveyed found that the LEPs had had a positive impact on the region’s business community and there has been little improvement on this opinion in 2013. Forty-three per cent of respondents are still undecided on whether they have had a positive impact so far, with almost a third stating that they had not.
“Only a quarter of respondents are confident that enterprise zones are good for overall regional growth, a substantial drop from 69% last year. More than half remain uncertain of their value. Over the course of 2013, it will be interesting to see how the region’s zones shape up and act as a tool strategically to focus resources and attract investment.”
Read about the major findings of the survey here
Tomorrow: The Economy
