Business confidence in Yorkshire fell 20 per cent in April, reveals Lloyds
Confidence levels among Yorkshire businesses dipped during April, according to the latest Business Barometer from Lloyds.
Business confidence in Yorkshire fell 20 points during April to 42 per cent, while companies in Yorkshire reported lower confidence in their own trading outlook month-on-month, down five points at 59 per cent.
Overall, UK business confidence fell 11 points in April to 44 per cent.
Looking ahead to the next six months, Yorkshire businesses identified their top target areas for growth as entering new markets (47 per cent), evolving their offering such by offering new products and services (44 per cent) and investing in their teams (39 per cent).
Martyn Kendrick, Regional Director Yorkshire and the Humber at Lloyds, said: “We've seen confidence dip this month, largely due to uncertainty about the wider economy.
"However, what’s encouraging is the approach businesses across Yorkshire are taking, with many investing in new products and services or developing their teams.
"These are the kind of innovative moves that demonstrate the ambition of Yorkshire’s business community.
"We’re here to support local firms as they navigate uncertain times, whether that's with financing, practical tools or simply expert advice to help turn their growth plans into reality."
The Business Barometer surveys 1,200 businesses monthly and has been running since 2002.