Invest

Thursday 6th October 2011

Yorkshire businesses expect exports to rise, according to Grant Thornton, despite business optimism in the UK as a whole dropping by 22 per cent since July.

The business consultancy said its research made the UK one of the least optimistic countries in Europe.

However, more than a quarter of businesses in Yorkshire have identified opportunities ahead with 26 per cent expecting exports to grow over the next year.

"UK businesses have been operating in a difficult market for some time now and have learnt to cope with constraints such as reduced customer demand, shortage of working capital and the high cost of finance," said Jonathan Riley, senior partner for Grant Thornton in Yorkshire.

"Since July, the intensity of bad news in the Euro zone and the growing pressure on consumer disposable income has meant that many feel that the light at the end of the tunnel is not getting any closer.

"However, despite this, businesses in the north have remained resilient with these latest figures showing that they do see opportunities in the year ahead. In particular, the confidence of UK manufacturers to explore new markets for export is crucial and it is very encouraging to see more than a quarter of northern businesses expecting to increase sales overseas in 2012.

"Any business with good exposure to export markets, particularly growing economies such as India and China, will be less affected than sectors that rely solely on domestic demand."

This story first appeared in the Insider News Yorkshire, to view the original article visit http://bit.ly/nb0Kjt.