Business confidence rises in South Yorkshire
BUSINESS confidence in South Yorkshire is at a three year higher, according to a new survey.
Almost three quarters of companies expect 2011 to bring better times, more than double the number at the same time last year.
The survey by Grant Thornton found that firms are predicting an increase in demand for goods and services with almost half forecasting a growth in exports.
Paul Houghton, assurance partner at Grant Thornton in Sheffield, said: “It is not surprising that business confidence has improved in 2010. The recession officially came to an end earlier this year with the announcement that the national economy grew in the fourth quarter of 2009.
“What may be surprising is the number of businesses expecting their situation to improve, not least given the region’s exposure to the public sector.
“At 70 per cent, this is a significant increase from last year and provides some positive news. Our manufacturing sector continues to lead the region with higher overall levels of confidence reported.”
The survey found evidence of returning confidence in banking with 59% saying they felt supported by their banks although there was a more mixed response on the value of business support organisations with only chambers of commerce backed by more than half.
