BUSINESS transactions across Yorkshire fell in number and value during the first quarter of 2009, said a report.
Figures from business information group Experian showed there were 69 mergers and acquisitions in the region during the quarter.
Those figures compared with 102 during the final quarter of 2008.
Deal values fell by 3.3% to £417.6m.
Yorkshire accounted for 7% of all UK mergers and acquisitions in the first quarter and 1% by value.
Nationally, the number of transactions fell by 10.4% to 961 deals from 1,073 before.
However, deal values rose by 11.1% to £69.2bn.
The survey said the national picture was greatly distorted by Government rescues of the banks.
A spokesman for Experian said it seemed unlikely things would change in the immediate future.
He added: “Until the need for intervention dies away and the situation stabilises, normal activity is unlikely to resume.
“We would then expect to see the evidence of restructuring activities appearing – refinancing, acquisition of weaker competitors and the tapping of investors to strengthen balance sheets.
“Advisers are going to be busy even if they will be doing slightly different things from what they did 12 months ago.”