Yorkshire SME confidence rises

13/01/16 - 16011303 - CLYDESDALE BANK    GLASGOW    Gavin Opperman (Customer Banking Director).
13/01/16 - 16011303 - CLYDESDALE BANK GLASGOW Gavin Opperman (Customer Banking Director).
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Major investments and improvements in employment in Yorkshire have helped boost the confidence of small businesses.

The latest research by CYBG, in partnership with leading economic consultancy, the Centre for Business and Economics Research (Cebr), showed that Yorkshire & the Humber has seen a larger increase in the second quarter than any other UK region.

In the bank’s latest SME Health Check Index the score rose by 11 points to 59.

It authors said this is due to significant improvements to the capacity, confidence and employment indicators. Investments such as Siemens’ plans to develop a new rail factory in Goole also helped the situation.

At a national level the index is at its second lowest level in three years.

Gavin Opperman, Group Customer Banking Director, at CYBG, said: “Our last report indicated a difficult start to 2018 and the weather conditions didn’t help matters, but the second quarter does provide some grounds for optimism. GDP and capacity have made gains, and the Index remains steady, dropping by only 0.5 points.

“However, on a closer look, there are still indicators causing concern, which doesn’t provide as positive a story across the UK.”