North-South gap increases

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Businesses in the South are set to grow faster than those in the North, according to accountants and business advisers RSM Tenon.

The firm, which has offices in Doncaster, says its quarterly survey of entrepreneurs revealed that 30 per cent of companies in the north planned to take on staff, while 28 per cent will be shedding workers.

By contrast, 40 per cent of companies in the south plan to take on staff, while 15 per cent will be making cuts.

Chief executive Andy Raynor said the results were the first sign that the positive attitude of six months ago was starting to falter.

“Uncertainty over interest rates, the threat of inflation and higher taxes are all starting to take their toll on the entrepreneurial spirit,” said Mr Raynor.