Newspaper article Evening Chronicle (Newcastle, England)

Banking on Success; ADVERTISING FEATURE Yorkshire Bank Is Supporting Small and Medium-Sized Companies in the North East with the Uk's Departure from the Eu and Other Business Issues Expected This Year

Newspaper article Evening Chronicle (Newcastle, England)

Banking on Success; ADVERTISING FEATURE Yorkshire Bank Is Supporting Small and Medium-Sized Companies in the North East with the Uk's Departure from the Eu and Other Business Issues Expected This Year

Article excerpt

Byline: Alice Cachia

More than a third of small and medium-sized companies in the North East think business will be worse off because of Brexit.

New YouGov research, conducted by the Telegraph, asked small and medium enterprises (SMEs) in the region to consider what impact leaving the EU will have on business in 2019.

More than a fifth (22%) of SMEs in the North East believe business will be "somewhat" worse off, while 15% think business will be "significantly" worse off.

Just 4% of SMEs in the North East think business will be better off overall because of Brexit.

Our approach remain close understand they are Gavin Business Yorkshire While the lack of a clear deal on the UK's departure from the EU has left companies in the North East struggling to navigate the uncertainty of Brexit, one bank in particular is providing support to SMEs throughout negotiations.

Yorkshire Bank is a UK bank that understands the needs and challenges of UK business and has supported SMEs and their growth for over 150 years.

Gavin Opperman, Group Business Banking Director at Yorkshire Bank, said: "There are a series of potential headwinds. With Parliament in deadlock over Brexit, businesses have little Opperman, Group Banking Director, Bank clarity on what awaits them after March 29. This has made planning challenging, and we have seen our customers adopting a 'wait and see' attitude."

The business attitudes towards Brexit seen across the North East mirror a national trend, with 39% of UK SMEs agreeing the overall impact will make them worse off.

Alongside Brexit, North East SMEs are anticipating other changes in 2019. More than one in every seven (15%) in our region say they are likely to increase investment in new technology this year. But cost is an important factor.

More than half (57%) of SMEs across the UK say that price would prevent them from adopting new technologies, and four in every 10 in the North East agree.

INTEGRAL But Yorkshire Bank recognises that technology is integral for SMEs.

Opperman said: "Our new Business Internet Banking will soon integrate with a money management tool to give customers cashflow forecasting, benchmarking and financial analysis tools, all of which will empower SMEs and allow them the space they need to focus on growing their enterprises. …

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