Leeds business district Picture: Lad 2011
The Yorkshire Party is calling for a fair share of investment to be ploughed into the county’s small and medium businesses, after the region scored poorly in a new study.
BGF, which is the most active investor in growing businesses in the UK and Ireland, has just released Ready for Business, a report on the state of small or medium-sized enterprises over the past three years with some startling results highlighted.
It looked at businesses with between £3m and £150m turnovers: more than 13,000 businesses.
Although over the period all regions experienced significant growth in turnover, out of the 12 regions analysed Yorkshire again showed a lower than average growth rate coming in eighth – way behind Wales, Northern Ireland the South East and London. However, the Yorkshire region was fifth when looking at the proportion of businesses that were hiring staff.
Tim Norman: great disparity between Yorkshire an dregions
Tim Norman, Yorkshire Party Business Spokesman, studied the report and said: “It is great to see such growth in these SME businesses, however, once again there is still a disparity shown between the Yorkshire region and the South East and London. Excluding Wales and Northern Ireland, which have only a few large SMEs in the review, London and the South East again come out fair and square on top.”
Tim continued, “The Yorkshire Party continue to call for greater fairness in investment in infrastructure and enabling works in order to unlock the wealth of skills, assets and entrepreneurship simmering under the surface. Only through further devolution and investment can this be achieved.”
In its story on the BGF report, The Yorkshire Post noted that a group of 1,100 SMEs in Yorkshire had experienced combined revenue growth of £3.5bn over the three years.