3 Talking Points Which Could Affect Yorkshire Businesses in 2020

Last year was regarded by many as a tough one for businesses in Yorkshire and the rest of the UK, with the uncertainty surrounding issues like Brexit being something which impacted on many organisations.

However, the mood at the start of 2020 seems a bit brighter, with Yorkshire manufacturers discussing with Insider online magazine how they are feeling more confident about the year ahead. Furthermore, there has also been news of exciting projects, such as KCOM’s planned £100 million investment to expand its full-fibre broadband network in the region.

But while things are undoubtedly looking up, which big issues may ultimately go on to have some impact on businesses in Yorkshire across the next 12 months? With this in mind, we take a look at just a few topics which may be on their radar.

1. Politics

The political landscape has had a massive bearing on business in recent years and, while last year’s General Election may have provided some clarity on key matters, developments in Westminster are sure to have an impact across 2020.

Matters further afield may also affect Yorkshire companies with overseas interests too. The US presidential election in November will be one to watch, with Donald Trump set to be up for re-election against a Democratic challenger. Several names are in the mix at present to take up the latter role, with former New York mayor Michael Bloomberg among those looking to become the candidate. The latest betting odds on Michael Bloomberg may vary, but he is regarded by some as an individual who could be perfect for the challenge.

Considering the potential impact that the result could have on the global economy and general confidence, it will be interesting to see how the election battle develops.

2. Technology

The coming year looks set to be yet another where technology plays a key role in the work of many businesses. New developments and innovations are constantly emerging across a range of sectors, and it will be intriguing to see which new technologies go on to have a significant impact.

One key development which is likely to affect many businesses is the rise of 5G. The speed and capabilities of the technology are hugely exciting and services are becoming increasingly available across the UK. For example, O2 recently stated that its own 5G offering is already available in 20 cities and towns, including Bradford and Sheffield.

Such networks could have a major impact on the world of business, so it will be intriguing to see how that plays out in the year ahead.

3. Going green

Environmental issues were headline news across 2019 and such matters only look likely to once again dominate conversations this year too.

The growing public mood around the issue of climate change and the future of the planet means that businesses will once again be keen to do what they can to showcase their green credentials and everything they are doing to be eco-friendly.

This might include them seeking to reduce their carbon footprint in a number of ways, as well as renewing efforts to ensure any products are manufactured in a green and environmentally sound way.

An exciting year ahead

The coming year looks set to be an exciting one for businesses both in Yorkshire and the UK, but we think the issues highlighted above could go on to have some effect on their success across the months ahead.

It will undoubtedly be fascinating to see how matters play out as 2020 unfolds.