State of the Region 2013: Future looking brighter for growth

BUSINESSES across Yorkshire, the North West and the West Midlands are united in their view that 2013 offers hope for growth, TheBusinessDesk.com’s annual State of the Region survey has found.

The view is in sharp contrast to the picture this time last year when few were looking at the 12 months ahead with any kind of optimism.

This year all businesses, regardless of area, appear to be more confident about the future. To a greater or lesser extent all firms believe that growth will take place, albeit for many it will be minimal.

The West Midlands is the most confident region with 54% of respondents expecting their turnover to grow over the next 12 months, followed by 49% in Yorkshire and 44% in the North West.

These are some of the key findings from TheBusinessDesk.com’s annual State of the Region survey, which gives a comprehensive barometer of business sentiment across the online news service’s three heartlands of 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

Those in Yorkshire would appear the most pessimistic with 57% of respondents believing growth will be flat or negligible. This contrasts with 44% in the North West and 47% in the West Midlands.

The North West is the region most confident of growth with 36% of respondents believing growth will be slow but consistent over the next 12 months. In the West Midlands the figure is 31% and in Yorkshire 17%.

Nevertheless, the vast majority of respondents still have confidence that their region remains a good place to do business.

Those in the West Midlands are the strongest advocates with 79% of respondents backing the region compared with 70% in the North West and 64% in Yorkshire.

The consensus (Yorkshire – 63%; the North West – 62%; and the West Midlands – 48%) is that any growth that does take place is likely to be organic.

The West Midlands is also the strongest supporter of the Local Enterprise Partnership network with 39% of respondents there believing the LEPs have had a positive impact. Yorkshire is less convinced at 24%, while in the North West on 21% of respondents have backed the partnerships.

David Bradley (left), head of industrial relations at DLA Piper and partner in DLA Piper’s employment, pensions and benefits team in Yorkshire, said: “Last year, business leaders across the North West, Yorkshire and the Midlands generally expressed unease about the state of the UK economy.

“A year later and not unsurprisingly, the overriding theme remains largely the same with many expecting little or no economic growth. However, Yorkshire businesses have shown a high level of resilience throughout a prolonged period of very challenging conditions.

“Now, we’re increasingly seeing the business community pull together to promote the region’s commercial strengths and innovation and to attract long-term investment. It is pleasing to see that a key employee focus is the recruitment of skilled and motivated people into businesses in the region.

“Growth for many will come from working harder on regional, national and international opportunities, particularly beyond the troubled Eurozone, and ensuring that there is the right capability to exploit them.”

FOR MORE FINDINGS FROM OUR SURVEY, VISIT THE STATE OF THE REGION SECTION ON OUR WEBSITE