The next step towards the complete transformation of Grimsby Town Centre’s Alexandra Dock area is being taken.
Following approval at a meeting of North East Lincolnshire Council’s Cabinet, initial work will begin to look at an overall vision for the waterside land and how it could be redeveloped.
This will focus on the potential to transform brownfield areas in and around Alexandra Dock. This investigative work will run alongside a refresh of the town centre masterplan, and a look at the current infrastructure in the area – including the highways and public transport.
In a report to Cabinet members, it was outlined how funding of up to £500,000 is potentially available from Homes England and MHCLG (Ministry of Housing, Communities and Local Government) over the financial years 2024/25 and 2025/26.
If the council was successful in securing some of that funding, it would be used to support the progression of plans. Fuller details would be outlined in future Cabinet papers, adds the report.
It goes on to highlight how this redevelopment, as well as changes that have taken place, or are in progress, are in line with ideas outlined in the Grimsby Town Centre Masterplan. The current plan, which will now be refreshed and updated, was the basis for multi-million pound funding bids to Government, which were successful and have supported the work so far.
This has included the new Garth Lane bridge leading to the redesigned walkways, grass areas and river embankments, the new OnSide Horizon Youth Zone, and the plans for 123 new homes on land bought by the council.
There’s also the Freshney Place Leisure, Foodhall and Market scheme, the new-look Riverhead Square, E-Factor’s redevelopment of St James’ House, the work on St James’ Square and visual improvements to Victoria Street.
North East Lincolnshire Council Leader, Cllr Philip Jackson, whose portfolio includes regeneration, said after the meeting: “Giving people reasons to visit, live in and enjoy our town centre means it must diversify and we are making great strides in doing just that.
“We must now continue on this transformation path, and this is the next step that can be taken with the support of partners and those around us.”
WorkWell acquires Aire Street Workshops from Leeds City Council
Yorkshire-based workspace operator WorkWell has acquired Aire Street Workshops from Leeds City Council for an undisclosed sum. The company plans to maintain the building’s commercial use while upgrading its interior, ensuring current occupiers can remain.
The four-storey, 22,979 sq ft property, originally built in 1875 as a cloth warehouse, features 30 individual units, communal spaces, a private road, and a small gated car park. It currently houses 50 creative businesses. The site was repurposed in 1981 to support small industrial firms.
WorkWell specialises in technology-enabled workspaces designed for hybrid working and productivity. The Leeds-based firm operates two centres in the city and recently opened its largest office development in Harrogate. It provides office space for 800 workers each month.
Hull KR reveals ambitious regeneration proposals
Hull KR (Hull Kingston Rovers) is launching a major consultation exercise on ambitious proposals to regenerate land surrounding Sewell Group Craven Park.
The plans will be the most significant changes to the stadium footprint since its original completion in 1989.
The Club’s proposals are set to enhance the area with investment into better facilities and amenities, to promote health and wellbeing across East Hull and the wider city, while helping to future-proof the Club’s ambitions, both on and off the pitch.
In doing so, Hull KR aims to generate a positive impact for local communities and the wider city through their proposals, which would contribute to wider rejuvenation efforts ongoing in East Hull by Hull City Council.
If successful, the proposals would see significant investment into sport and leisure facilities, with the development of three training pitches, with one available for public use; new outdoor sporting facilities and the rejuvenation of the Waudby Centre.
Proposals would also bring forward two, large-scale retail stores, which would be occupied by UK brands, in addition to the development of a retail terrace, open, public spaces, the refurbishment of the Waudby Centre, and adequate car parking facilities to support the masterplan. Some initial future enhancements to the Sewell Group Craven Park stadium itself have also been outlined within the plans.
Paul Lakin, Chief Executive at Hull KR, said: “We are delighted to finally be able to share our plans with our supporters.
“As an ambitious Club, dedicated to the fans and the city we represent, we are incredibly proud to share our vision for the masterplan with the public – which could mean big opportunities for communities and for people’s lives within the city, and for the Club itself.
“This scheme aims to significantly enhance the stadium footprint and turn us into an impressive sporting campus in East Hull.
“When we purchased the stadium and option on surrounding land in 2022, we said Sewell Group Craven Park would be our forever home, and these proposals are testament to that.
“They will set a legacy, long beyond the current custodian’s ownership – securing the future of our Club, bettering our City and opening up fantastic opportunities for local young people – providing the right investment and infrastructure to help them to lead happier and healthier lives.
“Crucially for the club, the proposals will provide improved training pitches for all levels, and a dedicated hub and place of work for the men’s first team and our Academy pathway, with all the facilities they need in one building for the first time ever.”
The Dustpan and Brush Store acquires former Malton Foods site in Amotherby, North Yorkshire
The Dustpan and Brush Store has acquired the former Malton Foods site and premises in Amotherby, North Yorkshire to be its new warehouse and distribution centre.
The family-run company is to relocate its current operation from Pickering to the complex in Amotherby, near Malton, which occupies a total site area of 14.81 acres.
The former home of Malton Foods Ltd closed in 2023, with the Shrewsbury office of Towler Shaw Roberts instructed by the site owners to market the property.
The Dustpan and Brush Store supply a range of brushes, brooms, dustpans and cleaning products to customers around the UK and internationally through its online shop.
Director Tom Thorp said: “We currently operate out of different warehouses, with some on the same estate in Pickering and another in Scarborough, so this will enable us to bring all operations under one roof.”
The Dustpan and Brush Store’s new premises include a range of industrial/warehouse and office buildings within the former food processing plant, which extends to 133,805 sq ft, and an extensive yard, which also provides car parking and further expansion land at the rear extending to 6.7 acres.
Toby Shaw, who handled the sale for Towler Shaw Roberts on behalf of the owners, said: “We are delighted to have concluded the sale to The Dustpan and Brush Store and we wish them every success with their planned relocation.
“This is a very significant sale for the area and demonstrates the continuing strong demand for industrial premises in the locality.”
Multi-million pound investment in Scarborough over next decade to drive forward regeneration on the coast
A multi-million pound investment in Scarborough over the next decade will drive forward regeneration on the coast, boosting job opportunities and helping to improve the health and wellbeing of communities, North Yorkshire Council’s leader has said.
The Government has confirmed that funding of almost £20 million will remain for Scarborough as part of a national programme to bring major investment to towns across the country.
The programme has now been rebranded as the Plan for Neighbourhoods with an expanded remit to improve health and wellbeing along with work, productivity and skills. It is also aimed at boosting cohesion and education along with opportunities for local communities.
The original ambitions of the national programme, which was previously known as the Long-Term Plan for Towns, also remain and include reviving town centres, regeneration, promoting heritage and culture and addressing safety and security concerns.
Improving transport and connectivity are also key considerations under the initiative.
Council leader, Cllr Carl Les, said: “The chance to use such a significant amount of funding in Scarborough will bring wide-ranging benefits not just for communities in the town, but also far wider across the region.
“Scarborough is one of our biggest towns here in North Yorkshire, and there is real potential to bring a new era for what is among the country’s most popular seaside destinations.
“The fact that the scope of the Plan for Neighbourhoods has been broadened to the previous incarnation of the scheme gives us an even greater chance to transform Scarborough for residents, businesses and visitors.”
A total of £19.5 million in funding has been allocated for Scarborough to be spent over the next 10 years.
The new Plan for Neighbourhoods for Scarborough needs to be developed and submitted by the winter of this year, with the delivery of the projects due to start from the spring of 2026.
The chair of the council’s Scarborough and Whitby area committee, Cllr Liz Colling, who represents the Falsgrave and Stepney division, said: “Scarborough is such a wonderful place to live, work and visit, but like so many coastal areas, it does need investment.
“The funding that has been allocated to the town will bring very real benefits for so many people, and it is a welcome announcement from the Government that the money remains in place.
“I look forward to seeing the range of projects that come forward for this investment.”
The Government has said that previous work to consult and engage with local communities should be retained and adapted for the new programme.
North Yorkshire Council previously worked in partnership with the Scarborough Town Board to develop a 10-year vision document and a three-year plan for investment. In addition, there was extensive public consultation with more than 1,600 people taking part in Let’s Talk Scarborough events in the town centre and surrounding area and an online survey.
Key priorities for people who took part in the consultations included a cleaner, more attractive town centre in Scarborough and more frequent bus services, especially for teenagers and the elderly.
There is also a desire among the public to balance the needs of residents and tourists, and addressing the need for more public spaces and seating areas where people can gather and interact.
The initial vision focused on a number of measures that could be delivered within the town centre including the further redevelopment of the Scarborough Station area in Westborough, improving the appearance of the town centre and the inclusion of more public spaces.
North Yorkshire Council will be overseeing further community engagement in due course to build on the Let’s Talk Scarborough consultations and identify further priorities within the expanded themes of the Plan for Neighbourhoods.
Sheffield pest control products supplier transitions to employee ownership
Pest Control Supermarket.com (PCS) has transitioned to an Employee Ownership Trust (EOT), in a deal advised by accountants Hawsons.
PCS, a Sheffield-based online supplier of pest control products, undertook this transition to strengthen its future while ensuring continuity for employees and customers. As part of the process, Hawsons also advised on a group reorganisation to ensure the business was structured appropriately before the EOT transaction.
Jack Ware, Corporate Finance Director at Hawsons, said: “Helping businesses transition to employee ownership requires careful planning to ensure the structure is right for the company and its employees.
“Every transaction is different, and it was important that this transition not only met the company’s commercial needs but also provided a strong foundation for future growth. It has been a pleasure working with the PCS team to put the right framework in place.
“PCS is a great Sheffield based business that has successfully implemented a growth strategy over recent years and has plans for further growth under its new ownership model. With more businesses exploring EOTs as a succession option, having experienced guidance through the process is crucial.”
Allister Ashmore, Managing Director, PCS, added: “Transitioning to an EOT was a strategic decision to safeguard the future of the business, ensuring our employees have a real stake in its ongoing success.
“As a business with strong roots in Sheffield, ensuring local jobs and the long-term stability of PCS were key considerations in this transition. Hawsons’ guidance was invaluable in helping us navigate the process efficiently and structure the transition to support long-term stability.”
Legal aspects of the transaction were managed by Peter Turk and Michael Hall of Knights, with Clare Darwood overseeing the property elements.
West Yorkshire housing provider rebrands with plans for 1,500 new homes
Wakefield and District Housing (WDH) will rebrand as Vico Homes from 1 April as part of a new business strategy aiming to deliver 1,500 homes over the next three years.
The organisation says the rebrand follows a consultation with customers, partners, and staff to strengthen its position. It emphasised that the change is not linked to a merger.
Beyond new housing, Vico Homes plans to upgrade over 2,000 kitchens and bathrooms, improve energy efficiency, and invest in regeneration projects. The organisation manages more than 32,000 homes across the Wakefield and North of England.
In February, WDH secured £30 million in funding from NatWest to support retrofit and green energy initiatives. It has also expanded training and employment programmes for tenants and local communities.
Yorkshire Mayors join forces to drive regional growth and connectivity
Yorkshire’s three Metro Mayors have signed the White Rose Agreement, a new partnership to strengthen economic growth, transport infrastructure, investment, and regional public safety. West Yorkshire Mayor Tracy Brabin, South Yorkshire Mayor Oliver Coppard, and York and North Yorkshire Mayor David Skaith formalised the agreement at Selby Abbey, which sits at the border of their three combined authority areas.
The Mayors will collaborate on investment plans, create jobs, and position Yorkshire as a leader in the green industrial sector to drive local economic growth. They also plan to promote the region as a business and tourism hub, seeking to attract international investment and major cultural and sporting events.
Transport is a key focus, and the agreement reinforces their push for Northern Powerhouse Rail, upgrades to the East Coast Mainline, and increased capacity at Leeds, Sheffield, and York stations. They will also work to improve bus services across the region, aiming to better connect towns and cities.
Public safety is another shared priority, with the Mayors planning to coordinate efforts on tackling organised crime, cross-border offences, and violence prevention, particularly in their roles as Police and Crime Commissioners.
The agreement follows the May 2024 mayoral elections, with the three leaders now representing a combined population of 4.5 million. Council leaders from their respective combined authorities have backed the initiative, which they say will harness the power of devolution to deliver tangible benefits.
As part of the agreement, Lord David Blunkett is leading a review of Yorkshire’s transport connectivity, with findings set to be submitted to the government. The Mayors emphasised that by working together, they can take greater control of the region’s future and unlock opportunities for long-term growth.
Yorkshire-based care home company acquires Bradford property on journey to double in size
A Yorkshire-based care home company has acquired a property in Bradford from Priory Group as it looks to double in size.
Strong Life Care, which has its headquarters in Wakefield, has acquired Cooper House for a seven-figure sum, funded by NatWest.
Specialist business property adviser Montane Care brokered the deal on behalf of Priory Group.
Cooper House is a purpose-built property with 80 en-suite bedrooms with wet rooms offering nursing, residential, dementia and respite care since its launch in 2009. It employs 140 staff.
It is Strong Life’s eighth care home in a growing portfolio. Last year, the company acquired sites in Armthorpe in South Yorkshire, Ferryhill in Co Durham and Hessle in East Yorkshire.
Strong Life was founded by Harpreet Banwait, who left a corporate finance career to look after his elderly grandfather in 2010. He bought a care home in Barnsley to place his grandfather and has grown Strong Life into a group employing 560 people.
Harpreet said he is in negotiations for further acquisitions in the north east as well as in the north west, where he is looking to establish a presence for Strong Life.
The group currently has 500 beds across its portfolio and Harpreet said he is looking to double its size over the next 12 to 18 months.
Montane Care director Anthony Rae said: “We generated strong interest from multiple acquirers and it was a pleasure to achieve a quick sale by selecting an existing operator with proven funding.
“The demand for care homes remains strong and we continue to receive interest from companies and individuals seeking to acquire in the sector.”
Charity chooses Joseph’s Well for first national office in Leeds
Day One Trauma Support, a rapidly expanding national charity that supports people and families affected by major physical trauma, has secured its first dedicated office space at Joseph’s Well in Leeds city centre.
The 1,159 sq ft letting represents a significant milestone for the charity since achieving national status in 2021 and reflects its ongoing growth and commitment to providing vital support services to people with life-changing injuries.
Joseph’s Well, managed by J Pullan & Sons Ltd (Pullans), is a refurbished former mill that has been transformed into a flexible multi-let office building.
The charity chose Joseph’s Well for its close proximity to Leeds General Infirmary (LGI), one of the UK’s leading Major Trauma Centres. This strategic location allows Day One Trauma Support to remain at the forefront of trauma care to continue in its mission of ensuring that no one has to face the challenges of catastrophic injury alone.
Emily Smith, Director of Finance and Resources at Day One Trauma Support, said:
“The new space will enable us to work more effectively, improve collaboration and create a dynamic environment for our employees, trustees, beneficiaries, volunteers, and supporters.
“Joseph’s Well is perfectly located near LGI, where our journey began, and the city centre, which makes it convenient for our team across the North of England. We also love the vibrant and inspiring atmosphere of the building, which will energise our team and foster creativity.”
Bruce Strachan, Property Director at Pullans, added: “We’re delighted that Day One Trauma Support has chosen Joseph’s Well for this important next step in their journey. Our modern, flexible workspaces and proximity to the LGI and city centre continue to attract organisations looking for value, convenience, and a supportive environment in which to grow.
“We’re confident that this space will support Day One’s incredible work and help them continue making a meaningful impact on the lives of those they support.”
Carter Towler and WSB are joint marketing agents for Joseph’s Well.
Henry Boot Construction begins £3m mental health facility refurbishment
Henry Boot Construction has begun major refurbishment works on mental health facility, Maple Ward, at the Longley Centre in Sheffield, to provide a safer and more supportive space for staff and patients.
The £3m project includes a full refurbishment of the two-storey mental health unit and involves redesigning the layout to create 17 en-suite bedrooms, an accessible bedroom, calming de-escalation facilities, and a newly landscaped garden courtyard.
As part of the improvements, the team will be installing new drainage, manholes, and window and door openings, alongside refurbishing mechanical and electrical systems. Patient safety will also be a key focus, with the removal of fixed ligature anchor points throughout the site.
The renovation will also create or upgrade several essential spaces, including a quiet space, dining room, staff rest area, lounge, clinic room and dispensary.
Maple Ward provides important assessment and treatment for individuals experiencing a diverse range of emergency mental health needs.
Commenting on the project, Lee Powell, MD of Henry Boot Construction, said:
“We’re very proud to be delivering the refurbishment of this important mental health facility in Sheffield.
“This project is obviously much more than just bricks and mortar – it’s about creating a safe, calming, and supportive space for those experiencing urgent mental health needs. The refurbished ward will also be complemented by a new garden courtyard, creating another open-air retreat for self-reflection and relaxation.
“Well-designed healthcare environments are extremely important for our community, and we’re committed to ensuring the space meets the highest standards for both patients and staff.
“It’s a privilege to contribute to such an impactful project that will make a real difference in people’s lives.”
Northern Trains offers vacant station units to local businesses
Northern Trains is encouraging local businesses to lease vacant commercial spaces at railway stations across its network.
29 units are available through the train operator’s property partner, Lambert Smith Hampton. These include retail space at Knaresborough Station and the Station House at Hebden Bridge in West Yorkshire, open for complete redevelopment into a leisure venue, licensed restaurant, office, or retail space.
Northern Trains’ head of property, Robert Ellams, highlighted the potential benefits for businesses, citing high footfall, strong transport links, and the heritage value of many station buildings.
Lincoln footbridge to be demolished for hotel development
A pedestrian bridge over Melville Street in Lincoln is set to be demolished in May as part of a multi-million-pound hotel project by Lincolnshire Co-op. The bridge, previously part of the former City Square shopping centre, has been deemed an obstacle to development both logistically and visually.
Lincolnshire Co-op, which has outline planning permission for the hotel, is working with the Department for Transport and other stakeholders to finalise the demolition timeline and road closures. Notices have been issued under the Town and Country Planning Act 1990, confirming the planned removal.
The demolition is expected to take place over a weekend to reduce disruption. The bridge, a popular location for city and cathedral views, will be permanently removed as part of the site’s redevelopment.
Lincolnshire estate planning firm secures funding to expand outreach
Westwood Estate Planning, a Lincolnshire-based estate planning business, has received £8,000 in funding from First Enterprise through the British Business Bank’s Start Up Loans programme. The funds will support marketing efforts aimed at raising awareness of estate planning and financial wellbeing.
The business provides legal services including will writing, lasting power of attorney, probate, and estate administration. Founder Gary Tonsley established the company after experiencing firsthand the challenges of inadequate financial planning when his mother passed away without arrangements in place.
The funding will enable Westwood Estate Planning to expand its client education initiatives, including seminars, newsletters, and partnerships with financial advisers. First Enterprise – Enterprise Loans, a not-for-profit lender, provides loans between £500 and £150,000 to start-ups and SMEs unable to access traditional bank financing.
Representatives from First Enterprise and the British Business Bank praised the company’s efforts to improve financial literacy and support local families in securing their futures.
UK government halts key farm payment scheme, sparking industry backlash
The UK government has stopped accepting new applications for the Sustainable Farming Incentive (SFI), citing full budget allocation for the year. The scheme, part of the Environmental Land Management (ELM) programme, pays farmers for nature-friendly practices such as maintaining hedgerows and reducing pesticide use.
Defra stated that 50,000 farm businesses—covering over half of England’s farmland—are now enrolled in environmental land management schemes, which have a £5 billion budget over two years. However, the suspension of new applications has drawn strong criticism from farming groups.
The National Farmers’ Union (NFU) called the move a “shattering blow,” warning that farmers left out of the scheme may have to abandon environmental efforts to stay financially viable. The Country Land and Business Association (CLA) described the decision as harmful to both farming and nature. The Nature Friendly Farming Network (NFFN) raised concerns that delays in the next SFI rollout, expected in spring 2026, could leave many farmers without support for 18 months.
Political figures, including Alistair Carmichael, chair of the Environment, Food and Rural Affairs Committee, criticised the abrupt decision, warning it could further destabilise the sector. The government has defended its funding approach, stating that more farmers are now receiving payments than ever before.
ADR UK Tyremart acquires The British Rubber Company to expand market reach
ADR UK Tyremart Ltd, a subsidiary of ADR Group specialising in axles and suspension systems for off-road markets, has acquired The British Rubber Company (BRC), a UK-based distributor of wheels and tyres with a 98-year history.
The acquisition aims to strengthen ADR UK Tyremart’s market position by integrating BRC’s established distribution network with ADR’s expertise in off-road vehicle components. The move is expected to enhance product offerings, improve operational efficiency, and accelerate innovation in response to industry demand.
BRC’s retail and wholesale network will expand ADR UK Tyremart’s reach in the UK and Ireland. The combined portfolio will offer more comprehensive solutions to OEMs in the agricultural and off-road sectors. The companies also anticipate cost efficiencies and streamlined supply chain management.
Following the acquisition, ADR UK Tyremart and BRC will continue to focus on customer value, innovation, and long-term growth.
Syngenta Huddersfield begins production after £50m investment
Syngenta Huddersfield has started production of its PLINAZOLIN® technology pest control product following a £50 million investment in re-engineering its manufacturing facilities. The site will be the largest global producer of advanced stages of the active ingredient, which targets pests resistant to existing treatments.
The investment converted an existing production plant into an advanced life sciences facility, with products set for distribution in over 40 countries. Initial markets include India and South America, where pests significantly threaten crops such as soybeans, corn, rice, coffee, and cotton. Plans include inviting other manufacturers to use Syngenta’s infrastructure, potentially creating up to 300 additional jobs alongside the 1,000 already supported.
Local and national officials, including Huddersfield MP Harpreet Uppal and Minister for Investment Baroness Gustafsson, attended the site’s official opening. The UK government has described the project as a sign of confidence in the country’s economic future.
Sheffield Credit Union merges with Rotherham-based counterpart
Sheffield Credit Union and Laser Credit Union have decided to merge, bringing together two financial cooperatives.
The aim of the merger is to create a stronger, more resilient credit union that can support more people.
Over the coming months, work will take place to bring both credit unions together. During this transition local offices will remain open and staff will be unaffected.
Paul Hancock, CEO of Sheffield Credit Union, said: “This is an exciting time for Sheffield Credit Union and our growing membership. By joining forces with Laser Credit Union, we are strengthening our ability to support members, and future members from South Yorkshire, in achieving their financial goals.
“Our commitment to providing fair and accessible financial services remains at the heart of everything we do, and this merger allows us to expand our reach and enhance our offering.”
Alan Teale, Chair of Laser Credit Union, said: “We are thrilled to be joining Sheffield Credit Union in this next chapter. This merger is an opportunity to build on the strong foundations both credit unions have established over the years.
“Together, we can provide even better financial support, products, and services to our members, ensuring a resilient and forward-looking credit union for the future.”
Business leaders back Run With It’s new Patron Scheme to create pipeline of talent for the future
Business figures from Yorkshire and Lincolnshire gathered for the official launch of Run With It’s new Patron’s Scheme – an initiative designed to secure vital funding for the educational charity’s ongoing work whilst supporting its plans for growth across the region.
Run With It aims to improve core educational skills in both Maths and English while learners also develop essential life skills that go beyond the classroom walls.
The event, held at Hotham Hall in East Yorkshire, welcomed guests to learn more about how they can play a part in making a tangible difference.
The charity’s director Lisa Dawson said: “Our whole ethos is to inspire, motivate and educate the generation of tomorrow who are getting left behind and ignored. We want to give young people those lightbulb moments in life that help them change their direction and support them on a pathway to succeed.
“Consider the fact that Hull is the fourth most deprived area in education in England and the sixth most deprived in terms of household income. Some children to the east of Hull have never seen the Humber Bridge, while in Bridlington, the 10th most deprived town in the country, we see children who haven’t seen the sea, even though they live in a seaside town.
“The generosity and commitment of our patrons will be instrumental in allowing us to not only continue this vital work but also expand our reach to help even more young people.”
The Patron’s Scheme has three levels, providing different ways for businesses to engage with the charity to help fund either their intervention programmes or enrichment days.
With several high-profile business leaders already pledging their support, Run With It is now inviting more companies to join the Patron’s Scheme and become part of a movement that is set to drive real change.
Surge in insolvency-related activity affects Yorkshire and Humber
There was a sharp rise in insolvency-related activity nationally, including in Yorkshire and the Humber, in February, according to the latest research from the UK’s insolvency and restructuring trade body, R3.
The findings, which are based on an analysis of data provided by Creditsafe, show a 39% increase in insolvency-related activity in the region, with new business start ups increasing by just 0.2% in the same month.
Insolvency-related activity, which includes liquidator and administrator appointments and creditors’ meetings, was up across every region of the UK apart from Northern Ireland, which saw a 38% drop. The East Midlands and South West experienced the biggest increases, up 79% and 77% respectively on January’s figures.
Business start up numbers also fell across every English region apart from Yorkshire and the Humber (up 0.2%). Scotland, Northern Ireland and Wales also saw small increases in new businesses, with Scotland the highest at 9%.
Dave Broadbent, chair of R3 in Yorkshire and partner at Begbies Traynor in York and Teesside, said: “With SMEs as ever bearing the brunt, UK business is contending with a multitude of challenges that are threatening stability and growth right now, and so unfortunately both the hike in insolvency-related activity and the disappointing growth in new startups come as little surprise.
“We are now witnessing a worrying decline in borrowing as businesses see their peers struggling to manage debt, while concerns are still rife among employers about the Employment Rights Bill and the knock-on costs and complexities that might ensue. In some cases this is putting the brakes on firms investing and creating new jobs.
“The threat, and reality, of trade barriers also continues to loom large, for exporters and supply chains, and of course this is all compounded by the extremely cautious consumer spending that has dampened business activity across multiple sectors and paints a gloomy outlook for coming months.”
He added: “That said, SMEs are well known for their resilience and optimism in the face of adversity and it is always vital to bear in mind the invaluable role professional advice can play in helping businesses to adapt and change course rather than becoming a victim of economic headwinds.”
