The results of the June Lloyds Bank Commercial Banking Business Barometer have been released and they show marked regional differences in the confidence levels of UK businesses.

This monthly survey of companies in the UK showed that firms in Yorkshire are among the most positive in the country when it comes to bouncing back from the pandemic. Close to 50% of the firms in the county that took part in the survey stated that they were anticipating getting back to over half of their standard operating capacity by the close of the month, while a mere 4% expected to still be closed by then.

One fifth of all Yorkshire firms questioned for the survey said that they were hopeful of returning to the same levels they were at before the pandemic struck inside three months. Meanwhile, just 6% expected to need a year or more to achieve that.

The Lloyds Business Barometer also showed that overall business confidence levels among Yorkshire firms are bucking the national trend, rising by eight points during June while levels across the country as a whole stayed low. The -23% confidence level for Yorkshire companies puts them well above the -30% average for the country, with only the West Midlands scoring higher.

Paul Varley from Lloyds said that the survey results and the number of Yorkshire firms resuming operations offered signs of encouragement for the rest of the country. These firms can always get help from a business accountant in South Yorkshire as they plan for their recovery.

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