Business confidence growing says survey
The survey assessing business confidence in the region was sent to 1,500 businesses by financial and business advisers Grant Thornton.
In response, 70 per cent of businesses said they expected matters to improve over the next 12 months.
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Hide AdPaul Houghton, assurance partner at Grant Thornton, said: “This is a significant increase from last year and provides some positive news.
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“Our manufacturing sector continues to lead the region with higher overall levels of confidence reported.
“This is the third annual Grant Thornton Business Confidence Survey and it provides us with a vital barometer of business sentiment in the region.”
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Hide AdHowever, businesses were negative about the effect of public sector cutbacks on their trade and support for banks was also limited, with only 59 per cent of respondents feeling they provided a good service.
This area saw an improvement on the 2009 level of 46 per cent but did not achieve the 80 per cent rating in 2008.
In contrast, companies felt supported by their accountants and legal advisers, with 87 per cent responding positively.
Mr Houghton added: “Local businesses’ perceptions of support organisations are built on their interaction with these organisations.”