Some very positive news for Yorkshire’s economy today with the publication of a study which highlights the growing post-recession strength of the region’s leading businesses.
The report produced by accountancy and business advisory firm BDO LLP reveals that the revenues generated by Yorkshire’s top 250 companies now exceed £100 billion. These firms have also created almost 30,000 new jobs over the past 12 months.
And it’s been the 200 so-called ‘mid-market’ businesses (with less than £300 million in turnover) rather than the largest 50 that have had the most notable relative impact.
According to BDO, these firms have outshone their larger rivals in all of the key performance indicators. These include turnover which has grown by 13.2% for the mid-market companies compared to 5.2% for the largest 50 firms, job creation with employment levels up 11.6% against 4.9%, and overseas sales which have risen 19.3% in mid-market businesses as opposed to 3.6% in the top 50.
But the central message is loud and clear: Yorkshire’s economy continues to prosper and the outlook for future significant and sustainable private sector growth here remains very bright.
News that all of us want to hear on a day the sun is beaming down in God’s Own County.