New Year Business Focus for Yorkshire
Yorkshire has been praised for its supportive business environment for new and existing firms
Research by Yorkshire Bank shows that over two-thirds of survey respondents believe Yorkshire is a good environment for starting a new venture, and a similar figure believe the region offers good prospects for business investment and long term growth.
The news comes as entrepreneurial support service Business Link records a sharp increase in enquiries from people wishing to set up new service sector companies in Yorkshire, covering professions such as accountancy or virtual PAs.
The majority of these new enquiries are from would-be entrepreneurs who want to start their venture from home, with as low overheads as possible.
The increase is thought to be spurred by public sector cutbacks, looming redundancies and job losses.
“We are seeing a trend in pre-starts wanting to set up service sector businesses, involving minimal overheads, such as accountants or virtual PAs,” said Karen Marsden, head of Business Link’s customer information centre in Yorkshire.
“There is also an increase in individuals looking to set up on a part-time basis over a six to 12 month period to test the water before committing to full time.”
However, some current business owners located in Yorkshire believe that it will become harder to start or grow a business over the next two to three years.
According to TheBusinessDesk, Richard Norrington, director of Yorkshire Bank’s integrated financial solutions operation, said:
“Starting a business, or investing to take a venture to the next level, is an important milestone which requires a number of factors to be successful. Many businesses are considering their future growth prospects with a growing confidence.
“Although there economic challenges remain, there will also be growth opportunities for strong businesses.”