Happy Business Man

The new Lloyds Bank Commercial Banking Business Barometer shows that levels of confidence amongst businesses in Yorkshire are currently higher than in any other part of the country.

This report is published every month, and its figures come from an analysis of 1,200 UK companies. The May barometer found that there had been a 10-point month-on-month increase in the percentage of Yorkshire firms that stated their overall business confidence levels had improved. This took the percentage for the region reporting high levels of confidence to 39%, compared with 33% for the UK overall – which is a four-point rise.

The rising business confidence was not the only positive indicator that the May Business Barometer had for the region, as levels of optimism about the overall economy among Yorkshire businesses also rose significantly. They went up to 50%, representing an increase of 16 points compared with the month before.

Together, these figures add up to a 44% headline confidence reading for the area during May, with November of 2018 being the last time it was as high as this.

Yorkshire and the Humber Regional Director for Lloyds, Steve Harris, told the Yorkshire Post that:

“Despite a difficult and challenging year of lockdown restrictions, Yorkshire’s businesses have remained resilient, and their efforts are now paying dividends as they report the highest confidence levels in the UK.”

Accountants in Goole that provide small business advice can help firms that are starting to bounce back ensure they avoid cashflow problems and other issues that could hold them back.

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