Yorkshire and the Humber recorded a strong rise in business start-ups in September, as new figures reveal growing entrepreneurial confidence across the region.
According to the UK’s insolvency and restructuring trade body R3, 4,989 new businesses were launched in Yorkshire and the Humber during September, representing a 19% increase on August’s total. The uplift, based on an analysis of data from Creditsafe, was among the highest in the UK, outpacing the national average and reflecting a wider trend of renewed business start-up activity across most regions.
The regional figures showed increases in East Anglia (up 17%), Wales (up 16%), the North West (up 15%), and North East (up 15%). Only Northern Ireland saw a larger month-on-month rise (up 32%) than Yorkshire and the Humber.
At the same time, insolvency-related activity in Yorkshire, which includes liquidator and administrator appointments and creditors’ meetings, fell by 6% to 192 cases. This reflects a general downward shift across most of the UK, with notable falls in the South West (-21%), North West (-18%), and East Anglia (-15%).
Dave Broadbent, chair of R3 in Yorkshire and partner at Begbies Traynor in York and Teesside, said the figures highlighted Yorkshire’s resilience and a renewed confidence among the region’s entrepreneurs.
“Yorkshire and the Humber has shown real resilience this year, and the vigorous rise in new business creation in September underlines the region’s innovative spirit,” he said. “We’re seeing more people start new ventures, which is a really positive sign for the regional economy. Challenges such as high costs and tight cash flow certainly haven’t gone away, however it’s clear that optimism and ambition are returning across the region.”
He added: “At the same time, the dip in insolvency-related activity is encouraging and suggests that more firms are managing to steady themselves after a difficult couple of years. Business owners should use this opportunity to build financial resilience and plan ahead, so they’re better prepared for any challenging future economic headwinds. It’s vital to monitor finances closely and seek early professional advice from R3 members if challenges begin to emerge.”
