YORKSHIRE firms remain ambitious despite the problems posed by the credit crunch, soaring raw material costs, changes in oil prices and falling consumer demand.
Almost 60% of firms in the region polled by the Institute of Chartered Accountants in England and Wales said the credit crunch was having a negative effect on their business – but 83% still listed business growth among their main objectives.
The survey found that Yorkshire firms were largely positive about their prospects, with just 14% expecting the impact of financial market instability to affect their organisation for more than two years,.
Asked about their business objectives, 61% of firms in the region put increased profitability at the top of the list.
Investment in staff, plant and machinery also rated highly.
