Member Article

Northern businesses eye expansion despite tricky conditions

Businesses in the North of England are planning to expand in the next year, but are finding current conditions difficult.

According to the latest Business Barometer from Close Brothers Invoice Finance, 39% of firms are planning to grow, while a further 22% are finding it almost impossible to strive for growth.

The barometer said over a third of respondents are considering using invoice finance for expansion during 2013 after many said they have found it difficult to access finance.

Close Brothers’ survey also reported that employment across the North has grown faster than the national average, although certain hot spots in the region are the worst places to find work in country.

Hull is the most difficult place to find work, with 51 job seekers to each vacancy, in comparison with Aberdeen, Guildford and Cambridge where there is less than 1 job seeker per job placement.

Sunderland closely followed Hull with 42 job seekers to each position, followed by the Wirral with 38.

The survey also indicated that EU skepticism is growing, with 46% of Northern respondents saying they believe the UK should consider leaving the EU.

Two fifths of these respondents said they were concerned about economic issues in the Eurozone, and are worried this could further unsettle the UK economy.

This was posted in Bdaily's Members' News section by Miranda Dobson .