Nine out of 10 businesses in the North West have been proactive in dealing with the impact of the recession, according to a new report.
The report by HSBC commercial banking also states that a third of businesses in the North West have become more adaptable.
Norman Tenray, chairman of the Lancashire Business Finance Forum, said: “The reality is that businesses have worked hard to restructure themselves with very, very little support or assistance.
“There is a certain element of pride of businesses in the North West and people are very hesitant to say how it has affected them.”
Mr Tenray added: “I am incredibly impressed by tenacity and resilience of companies in the North West.
“But I am incredibly disappointed that it has all been done singularly and not as a group movement.”
Mr Tenray said that a “more open platform” is needed to celebrate the “success and resilience of businesses.”
The report also shows that nearly six in ten (58%) say the recession has brought about unexpected benefits.
And six in ten (61%) businesses in the North are expecting their business to grow over the next two years
David Beaty, HSBC’s head of commercial banking in the north said: “This report reveals the hidden successes we are seeing on a daily basis in the North West; businesses getting on and growing despite the economic downturn.
“These inspirational business leaders hold the key to trading the country out of recession and are using smarter finance solutions and innovative thinking to strengthen both their position and that of the future UK economy.”
These business leaders have been identified as ‘Growth Pioneers’, who are taking control of the future of British business and steering the country towards recovery, according to the Growing British Business report.
The report also reveals there are a number of cities up and down the country which are providing the infrastructures and economic ecosystems that these leading businesses need to continue on their growth journey.
Some of these cities, including Liverpool in the North West, have already been recognised as dynamic centres for growth in HSBC Commercial Banking’s 2011 Future of Business report.
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