Partner Article

Northern businesses more likely to plan turnover growth

North of England businesses are more likely to be planning turnover growth, according to a new survey.

The ICAEW UK Enterprise Survey 2010 shows that the proportion of businesses in the North planning turnover growth in the next two years is significantly higher than in the UK overall.

In the 2010 survey 94% of the region’s businesses are planning turnover growth, compared to a UK average of 80%.

However, the region’s businesses are more likely than those in the UK overall to say that their operation and development has been hindered by corporate governance requirements (48% compared with 33% for the UK overall), even though around half consider the UK’s regulatory and taxation environment to be business friendly.

Increasing profitability continues to be the key priority for around half of businesses in the Northern region in common with businesses in other parts of the UK.

Keith Proudfoot, ICAEW Regional Director, said “The 2010 survey shows businesses in the North have similar levels of involvement in international activities as businesses in the UK overall, but they are however more likely than those in a number of regions to have operations or activities outside the UK.

“The findings in general reinforce those of earlier years’ Enterprise Surveys and of our recent Business Confidence Monitor – the region is holding steady, despite some evident weaknesses, but exports are healthy and international trade continues apace.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .