MORE than a third of local smaller firms feel less confident about their future under the new Government and many doubt that election promises will be kept.

Research among 1,000 Yorkshire firms by small business funder Liberis found that 37 per cent of companies feel less confident about their business’ future since the election, against 27 per cent who feel more confident.

Moe than a quarter of respondents lacked confidence about the new administration sticking to its election pledges to small businesses,although 34 per cent felt it would.

Key measures SMEs would like to see include the promise to review business rates;

cut red tape and to deliver 3,000 new apprenticeships over the next five years.

SMEs in the region also remain concerned that access to finance will not become easier, with 34 per cent of firms not convinced it will happen.

Paul Mildenstein, Liberis chief executive, said, “Despite a majority win nationally, there’s still plenty of work needed to gain the confidence of Yorkshire and Humberside’s small businesses. Last week’s announcement of a new Enterprise Bill is a welcome start, but small businesses need to see the detail, a plan of action and a delivery timetable of all the support promised pre-election.”

Meanwhile, fewer regional professional services firms are at most risk of going bust according to insolvency trade body R3. The proportion of firms at higher than normal risk of insolvency has fallen two per cent this month..

The R3 findings show that only 29 per cent of regional professional services firms have a higher than normal risk of insolvency, compared with 31 per cent in the North West and 32 per cent across the UK .

Of the 2,857 active professional services firms in Yorkshire, only 834 are now identified as being at higher than normal risk.

Chris Wood, Yorkshire R3 committee member and partner at Clough Corporate Solutions in Cleckheaton, said: “After a turbulent few years in professional services, with the recession as well as legislative changes causing increased distress particularly in the legal sector, it is encouraging to see signs of an upturn.

“Traditionally, the Leeds City Region has been one of the leading centres for financial and business services in the North, generating billions of pounds every year and creating thousands of jobs, as well as providing the vital expert advice needed by other businesses in the region in order for them to flourish.

“Increased competition has seen the demise of some firms as well as a move towards consolidation, and those firms that have survived are emerging fitter and in a strong position to take advantage of the recovery. ”