Despite a 12-year low in the percentage of UK small businesses predicting growth over the summer months (24%), two in three enterprises say they are working hard on plans to secure future growth – and Yorkshire and the Humber sees the biggest year-on-year transformation anywhere in the UK.

The new research findings from Novuna Business Finance reveal that the percentage of small businesses working on growth plans in Yorkshire and The Humber has risen sharply from 53% last year to 68% this month. London and the West Midlands recorded the most small businesses working on growth plans – but the year-on-year improvement was most pronounced in Yorkshire and The Humber. In the North East, 61% of small businesses said they were working on new initiatives to back future growth, compared to 64% in the North West.

Percentage of small businesses working on initiatives to back future growth

	September 2025	September 2026
London	77%	80%
West Midlands	74%	75%
Yorkshire/The Humber	53%	68%
East Midlands	57%	67%
East Anglia	63%	67%
North West	72%	64%
South East	64%	62%
South West	61%	62%
Wales	68%	62%
North East	59%	61%
Scotland	55%	55%

Of those small businesses in Yorkshire and The Humber working on initiatives to secure growth for the future, the top initiatives backed included: keeping fixed costs down (54%), being stricter on managing late payments (28%) and improving cash flow (25%) Other growth projects that small business owners are prioritising include: expanding into new overseas markets (18%), investing in new equipment (14%) and reassessing their funding arrangements (14%).

After a very challenging summer period, which saw small business growth outlook fall to a record low, this research may offer hope of improving confidence in Yorkshire and The Humber heading into the autumn months. The data conveys a real sense of resilience across the SME community. Even at a time when trading conditions have been challenging, many business owners are taking steps to strengthen their businesses for the future.

Many small businesses are focusing on measures to manage late payments and to protect cash flow, whilst others are investing in new machinery and looking at efficiency gains that can help improve profitability. At Novuna Business Finance, we continue to support established businesses by financing essential assets, enabling them to preserve cash flow and ease pressure on other areas of their budget. Taking a flexible approach gives small businesses greater scope to plan ahead and invest in opportunities that power future growth.