Mid-sized businesses in Yorkshire are showing increased confidence despite rising employment costs, according to Grant Thornton UK LLP’s latest Business Outlook Tracker.
The survey found that 75% of mid-market firms in the region plan to pass higher employment costs onto customers, up from 71% in December. Many businesses also adjust compensation strategies, including limiting pay rises, reducing bonuses, and reviewing employee benefits.
Despite these cost pressures, 83% of Yorkshire’s mid-sized firms are optimistic about their funding position for the next six months, up from 79% at the end of 2024. This contrasts with large UK corporates, which have reported declining confidence in revenue growth, funding, and overall economic outlook.
Grant Thornton’s Yorkshire and North East Partner, Dan Dickinson, attributes this resilience to the region’s diverse economic landscape and adaptability. He notes that local firms make strategic decisions to sustain growth and remain competitive, positioning them well for future challenges.
