Half of region’s SMEs to invest as optimism rises

Research from Close Brothers Asset Finance found almost half (49 per cent) of small and medium-sized enterprises (SMEs) in the region plan to invest in their businesses in 2015.

More than two-fifths of companies surveyed said trading conditions were improving, as the UK recovery takes hold.

Just under a third (31 per cent) of businesses in the region believe they will expand over the course of this year.

The survey, which polled 700 SMEs throughout the country and across a number of sectors, found 43 per cent of local businesses plan to boost staff numbers this year, with just eight per cent looking to reduce headcount. More than two-fifths (42 per cent) are actively looking for finance to expand.

Mike Randall, chief executive of Close Brothers Asset Finance, said the UK’s continued growth is good news for small businesses that have struggled to thrive.

He said: “Our survey results suggest that almost half of SMEs in Yorkshire and Humberside are now feeling confident to make strategic decisions about growth.

“The challenge now is to ensure these ambitious small businesses can access the finance they need to achieve their growth.”