Finance remains tight, but region optimistic over future

Yorkshire and Humberside businesses continue to be affected by a finance gap, but are confident that conditions will improve over the coming year, according to an independent online survey.

The findings came in a local report which gained the views of 104 intermediaries who work closely with businesses around the region.

Intermediaries, which include corporate finances, business support organisations, Business Link advisors, banks, accountants and solicitors, advise companies to help them develop and grow.

Around 93 per cent of intermediaries feel businesses continue to be affected by a finance gap, of which 14 per cent said it affects all or almost all of their clients.

Even though 88 per cent of intermediaries indicated that market conditions and accessing private finance has become more difficult over the past 12 months, they are more confident that accessing finance will improve, with 56 per cent believing it will be better in 12 months time and 78 per cent in two years time.

The independent research, performed by Sheffield based ekosgen at the end of 2009, asked intermediaries about the type of Fund product that they had recommended to clients over the past 12 months

The small business loan was cited as the most frequent. The equity linked investment is the second most popular, as it had been recommended by almost three quarters (72%) of respondents over the past 12 months.

Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire