HOPES of the Olympic Games bringing a big boost to businesses across the country have been disappointed, says a new report.

The Olympic Games Organising Committee’s initial estimated the Games would bring in £6.5bn from businesses nationwide but 87.5% of businesses in the North East they haven’t benefited from the event.

Just how profitable the London Olympic Games were might be answered by recent statistics from the Business Barometer commissioned by Close Brothers Commercial Division.

The quarterly survey canvasses the views of business owner managers across the UK and Ireland on a range of issues affecting their business.

Northern Ireland topped the poll with 27.8% of businesses questioned claiming that the Games were of benefit to their company in terms of increased turnover.

This was in contrast to the 22% of businesses asked in the host city, London. While the figures are positive, they don’t quite live up to initial expectations. Ian Steward, managing director, north, of Close Brothers Invoice Finance, said: “It’s disappointing to see that the majority of businesses surveyed in the North East did not profit from the 2012 games as we’d expected it to be a welcome boost to the economy.”

The study has shown that of the businesses that did report a gain from the Games, 52% were larger businesses that have a £5m-plus turnover.

Industries such as transport and wholesale and distribution were also highlighted as the key sectors that benefited, mostly from increased sales or brand awareness.