Insider Media Limited

Almost two-thirds of businesses in the West Midlands agree that the UK economy offers good long-term prospects for business growth. That’s according to research by Yorkshire Bank, which also revealed that seventy per cent of the region's business leaders still believe Britain is a good place to start a new business.

Contrary to reports earlier this year which warned that many businesses might leave the UK to avoid changes to tax regulations, just 3 per cent surveyed by Yorkshire Bank claimed to have had any plans to move their companies off-shore in the medium to long-term.

Fourteen per cent of respondents considering a move abroad said that New Zealand would be their destination of choice. A further 13 per cent said that they would choose to go to China if they could relocate or set up a new business in another country.

Stephen Cronin, managing partner at Yorkshire Bank’s Financial Solutions Centre in Temple Row, Birmingham, said: “West Midlands business leaders have demonstrated their clear commitment to the UK and shown how much the country is integral to their company’s success and future plans.

“The West Midlands business community appears positive about the country’s ability to enable business growth. With an economy that is starting to show signs of stability and a marketplace that offers strong businesses real opportunities, it is clear why business leaders have confidence and commitment towards what the UK has to offer.”