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Nearly half of businesses in Yorkshire plan to increase investment over the next year.
This comes as Yorkshire firms report growing optimism and strong trading performance, according to new research from Barclays.
More than eight in ten businesses in Yorkshire and the Humber are confident about their own prospects, and 47 per cent expect to boost investment in the next 12 months.
Debbie Mullen, head of mid-corporate north at Barclays, said: "Yorkshire businesses are showing real confidence in their own prospects and a clear appetite to invest for growth.
"It is particularly encouraging to see firms prioritising new technology, while continuing to deliver strong trading performance despite ongoing cost and recruitment pressures."
The Barclays Business Prosperity Index found that 67 per cent of Yorkshire businesses are confident in the UK economy, above the national average of 63 per cent.
Nearly half (44 per cent) said they had exceeded their targets in the last financial quarter.
If given additional funding, 25 per cent would invest in new equipment or technology, another 25 per cent would focus on cybersecurity and data protection, while 19 per cent would back artificial intelligence.
More than three-quarters (77 per cent) said recruitment challenges had affected their growth ambitions.
Ms Mullen said: "Businesses clearly see value in greater regional decision-making, with decisions made closer to the communities they affect helping to unlock local economic opportunities.
"With the right support on skills and investment, businesses across Yorkshire & the Humber can build on this momentum and drive long-term growth across the region."
Barclays said it has £22 billion available in 2026 to support new and existing Business Banking customers and UK Corporate Banking clients.
The Barclays Business Prosperity Fund can provide lending or refinancing for eligible projects, subject to normal assessment, status and application. Terms and conditions apply.