Yorkshire firms still lukewarm on export growth

21 January 2013

Business confidence in the strength of the Yorkshire economy is returning in 2013, according to the new State of the Region survey by DLA Piper LLP, Yorkshire Bank and TheBusinessDesk.com.

And yet many firms do not perceive international markets as “the saviour” of their business with most seeing regional or national markets as the best growth prospects.

Those already exporting view the BRIC economies along with those of Europe and the US as most fruitful despite the fact the continuing eurozone crisis is seen as the biggest threat to trade.

Around a third of businesses (34 per cent) expect to grow this year. Most see new product development and targeting new markets as crucial, but enhanced bank lending the key to boosting the economy.

The survey shows that while many believe the Yorkshire economy is strong, London and the South East are more vibrant, are recovering from recession quicker and offer greater opportunities. Some said that this was a result of the southern bias from government, with the south also enjoying the benefits of increased investment in transport infrastructure.

Source : State of the Region survey by DLA Piper LLP, Yorkshire Bank and TheBusinessDesk.com