Boston Energy empowers women to pursue careers in wind
UK business confidence falls as tax hikes and US tariffs bite
UK business confidence dropped sharply in the first quarter of the year, driven by rising tax burdens and growing concern over new US tariffs, according to new data from the Institute of Chartered Accountants in England and Wales (ICAEW).
The ICAEW Business Confidence Monitor recorded a reading of -3, the weakest level since the final quarter of 2022 and a marked decline from the previous score of 0.2. The fall reflects growing pessimism among UK firms, particularly over increased costs and the global trade outlook.
More than half of surveyed businesses cited tax as a key challenge, with 56% highlighting it as a growing pressure—an all-time high for the index. The April rise in employer National Insurance contributions added to financial strain, alongside increases in energy bills and the national minimum wage.
The introduction of new US tariffs has also heightened trade uncertainty. Although initially announced as sweeping reciprocal measures, the tariffs were scaled back to a 10% baseline for most countries, including the UK. Nonetheless, the policy shift has added to concerns around global trade costs.
Companies also reported weaker expectations for domestic sales growth this year, forecasting the slowest pace since late 2022. This is despite a modest uptick in sales during the first quarter.
The Office for National Statistics (ONS) GDP figures showed an unexpected 0.5% rise in February, following a flat January. However, the broader economic environment remains fragile.
South Yorkshire’s tech sector sees 700% growth but remains underfunded compared to EU peers
South Yorkshire’s technology sector has seen significant growth over the past decade, with the combined value of local tech companies rising from £370 million in 2014 to £3 billion in 2024, according to new data from Dealroom and TECH SY. The number of active tech firms in the region has climbed to approximately 5,000, employing nearly 20,000 people.
The value of early-stage, pre-exit startups in South Yorkshire has also surged, reaching £737 million in 2024—up from £83 million ten years ago. These figures underscore a rapid acceleration in the region’s innovation economy, particularly in deep tech, which attracted 55% of the more than £200 million raised in venture capital since 2020.
Despite the strong upward trajectory, the report highlights funding disparities. Compared to similarly sized European tech hubs such as Eindhoven and Ghent, South Yorkshire startups are attracting less capital and securing a smaller share from international investors. Just 24% of investment into South Yorkshire startups came from foreign sources, significantly below the national UK average of 55%.
Rotherham has emerged as a local hotspot for tech innovation, with companies such as Xeros, Metalysis, Suiso, Iceotope and IntelliAM cited as standout examples in the region’s expanding ecosystem.
UK expands lending scheme to support small businesses hit by global tariffs
The UK Government has injected an additional £500 million into the British Business Bank’s Growth Guarantee Scheme, expanding the programme’s lending capacity to support small and medium-sized enterprises (SMEs) grappling with the financial impact of global tariff changes.
The move brings the scheme’s total financing capacity to over £2.6 billion, delivered through around 50 accredited lenders. So far, it has facilitated £2.1 billion in finance across more than 13,000 facilities.
Targeted at viable SMEs facing cashflow pressures, the scheme offers government-backed guarantees on loans of up to £2 million for most UK businesses and up to £1 million for those operating under the Northern Ireland Protocol. After their recovery process, lenders receive a 70% guarantee on the outstanding balance, though borrowers remain fully liable for the debt.
The scheme supports various financial products including term loans and overdrafts, depending on the lender. While interest rates and fees vary, they reflect the benefit of the government guarantee and associated costs.
Funding can be used for various business needs, including managing working capital or offsetting disruptions linked to tariff shifts. Eligibility depends on lenders’ standard credit and fraud assessments, and applications must be made directly through the British Business Bank’s accredited lending partners.
Rotherham Council secures key sites to advance station project
Rotherham Council is progressing its regeneration strategy with further land acquisitions critical to delivering the planned Rotherham Gateway Station at Parkgate. The new integrated station—combining a mainline rail stop and tram-train connection—will be located on Forge Way and is central to the borough’s plans to improve connectivity and stimulate commercial development through a proposed Innovation Campus.
The council has recently agreed terms to acquire multiple properties essential to the scheme, including Calendar House on Mangham Way. This site has been identified as necessary for health and safety compliance, specifically providing emergency access to the northern platform. It also offers a key access point from the north side of town.
Calendar House is occupied by a local SME and will continue to operate under a leaseback arrangement. The council expects the property to generate rental income in the interim, regardless of whether the station opens as scheduled in 2030.
The acquisitions are being funded through a £10 million allocation from the government’s Town Deal, supporting land assembly while the full business case for the transport project is under development.
Food and drink festival to support local businesses in Pocklington
A food and drink festival will take place in Pocklington, East Yorkshire, from 26 to 27 April. The event aims to promote the region’s local food scene and feature street food vendors, bars, and craft stalls, alongside entertainment including live music, comedy, and children’s activities.
Organised by Market Square Group Ltd in partnership with East Riding of Yorkshire Council, the festival provides a platform for local businesses to expand their reach. The Market Place will host food and drink stalls, leading to a stage and seating areas in St Peter’s Square.
The festival will run on Saturday from 09:00 to 18:00 BST and on Sunday from 10:00 to 17:00.
Network Space Investments secures £9m Sheffield industrial estate
Network Space Investments (NSI) has acquired a 103,262 sq ft industrial estate on Grange Mill Lane in Sheffield for £9 million. The estate, located near Meadowhall and junction 34 of the M1, includes four vacant warehouse units with substantial yard space and parking.
NSI plans to refurbish the property to create a modern industrial hub. The space will offer flexible unit sizes ranging from 10,000 to 50,000 sq ft, with eight-metre eaves. The refurbished space will be available by late summer 2025, addressing the tight supply in the local market.
This acquisition is part of NSI’s ongoing strategy to reinvest capital after the recent sale of its Europa Way property in Trafford Park. The company has also made recent acquisitions in Oakhill, Manchester, and Cowley Way, Sheffield, expanding its presence in key regional markets.
As part of its growth strategy, NSI is seeking new investment opportunities across the North of England and expanding its asset management team to support future acquisitions.
Government takes over running of Scunthorpe Steel plant
Nineteen47 partners with Honey to support 21 development sites
Planning consultancy Nineteen47 has partnered with housebuilder Honey, providing expertise across 21 of Honey’s development sites. This collaboration includes planning, urban design, and visualisation services to support the builder’s rapid expansion.
The 21 sites, primarily located across Yorkshire and the Midlands, will deliver up to 2,850 new homes with a projected gross development value of £795 million, pending planning approval. Nineteen47, with offices in Sheffield, York, and Nottingham, has been advising clients in various sectors, including residential, commercial, healthcare, and manufacturing, since its founding in 2015.
Honey, established in 2022 with offices in Leeds, is backed by Alchemy Partners’ £937 million Special Opportunities Fund IV. The company employs 80 staff and is involved in five live developments, such as the Iris project in Goldthorpe and Homes by Honey in Edwinstowe. The partnership with Nineteen47 is central to Honey’s ability to secure planning consents and move forward with its growth objectives.
Leeds development for 384 flats receives approval after adjustments
A development plan for 384 flats near the Armley Gyratory in Leeds has been approved after the developer agreed to increase the number of discounted homes. The scheme, proposed by UCR Leeds Ltd for the Wellington Road and Armley Road site, faced delays when the City Plans Panel deferred their decision last month.
Initially, the developer proposed only seven flats at a discounted rate, below 80% of market rent, which fell short of the council’s policy of 20% affordable housing. However, after further negotiations, the number of discounted units was increased to 19, making the project more in line with council expectations.
The revised plans also include added green space and design improvements. Notably, a proposed padel tennis court was removed in favour of more outdoor communal areas. The developer will contribute £530,000 for off-site green space enhancements as part of the development agreement.
The panel unanimously approved the revised plans at a recent meeting. Pending legal agreements, the final consent has now been delegated to the council’s chief planning officer.
Businesses in Yorkshire seek more office time despite hybrid working benefits
New research from Grant Thornton UK has revealed that although hybrid working has improved productivity and well-being, many businesses in Yorkshire are still keen to see their employees spend more time in the office.
The latest Business Outlook Tracker surveyed mid-sized businesses in the region, finding that 84% have adopted a hybrid working model. Most of these businesses report significant advantages, with 95% citing increased productivity, 93% observing a positive impact on employee wellbeing, and 91% confirming that staff prefer hybrid arrangements. Additionally, 95% of respondents believe hybrid working benefits their business.
However, despite these positive outcomes, 93% of businesses still want employees to return to the office more often. This is partly due to the recognition that some activities, particularly mentoring and developing younger staff, are more effective when conducted face-to-face. 86% of businesses with hybrid working models acknowledge that it has affected their ability to adequately support and train less experienced employees.
Businesses are now seeking the right balance between flexibility and in-person collaboration to ensure productivity and professional development continue to thrive.
Insolvency figures rise in Yorkshire amid economic uncertainty
In Yorkshire, insolvency activity has increased significantly, with cases rising to 284 in March, up from 248 in February. This marks a notable increase in financial distress within the region, reflecting broader economic pressures affecting businesses nationwide.
The Yorkshire & Humberside region now ranks fourth in the UK for insolvency activity, behind Greater London, the North West, and East Anglia. The data, analysed by R3, highlights a continued upward trend in insolvencies across all regions of the UK, pointing to a challenging financial landscape.
Rising costs, economic volatility, and reduced consumer spending have been major factors contributing to the region’s insolvencies. Many businesses are struggling with cash flow issues, and creditor actions have become more assertive in response. Inflationary pressures and uncertainty over future economic performance compound these difficulties.
While insolvency numbers have risen, Yorkshire has also seen an increase in new business activity, with a rise in startup registrations. However, the overall outlook for businesses remains cautious, as financial instability continues to impact established companies and new ventures in the region.
Fitzwilliam Estate plans spa hotel development on historic farm site
The Fitzwilliam Estate has submitted a proposal to Rotherham Council to transform a cluster of disused heritage farm buildings in Wentworth into a spa hotel, complete with a swimming pool, restaurant, holiday cottages, and event space.
The site, known as Home Farm, sits adjacent to the independently owned Wentworth Woodhouse, a major heritage attraction. The development is positioned to complement tourism in the area and support local economic growth.
The plan includes the restoration of several listed buildings. The Threshing Barn is earmarked for hotel use; the Gun Park would become a restaurant; the Potting Sheds and Cart Sheds would be converted into hotel suites. The Powerhouse, a 1904 structure once supplying electricity to Wentworth Woodhouse, would be repurposed as an events and wedding venue.
The scheme also provides for new visitor parking and an additional access route via Granny Clarke’s Wood, aimed at easing traffic congestion in the village.
This investment aligns with a broader push to boost visitor numbers and spending in the region, with the Wentworth Woodhouse Preservation Trust expressing support for the proposal. The Fitzwilliam family, who retained ownership of the farm properties after selling the main estate in the 1980s, continues to manage development around the historic site.
Rothschild & Co expands UK regional wealth team with new senior hires
Rothschild & Co has expanded its UK Wealth Management regional team with three new appointments in Leeds and Manchester, aiming to support growing demand from high-net-worth clients outside London.
Edward Binks has joined as Director in Leeds, bringing experience from James Hambro & Partners, Aberdeen Standard Capital, and Newton Investment Management. He will work alongside Alison Probert, who launched the Leeds office in 2022.
Tom Fleming and Jessica Pearson have joined as Assistant Directors. Fleming, based in Leeds, previously advised private clients at Brown Shipley. Pearson, based in Manchester, moved from Investec after earlier roles with Evelyn Partners in Belfast.
Northern Gritstone secures £50m to fuel Northern innovation
Northern Gritstone has secured £50 million in new funding to expand its investments in early-stage life sciences and deep tech businesses in the North of England.
The capital injection includes £35 million from Northern LGPS, the asset pool representing pension funds for Greater Manchester, Merseyside and West Yorkshire. The remaining £15 million comes from new backers Fulcrum Asset Management and Aviva. This latest raise brings Northern Gritstone’s total capital to £362 million.
Targeting university spinouts, the firm backs high-growth businesses in sectors such as semiconductor design, advanced materials, secure computing, artificial intelligence, healthtech, and gene therapies. Since its 2022 launch, Northern Gritstone has completed 32 investments, grown its investment team, and introduced its in-house accelerator, NG Studios.
As part of its growth, the company has added Paddy Dowdall, assistant director at the Greater Manchester Pension Fund, to its board as a non-executive director.
The move signals continued momentum for Northern Gritstone’s strategy of building a robust regional innovation ecosystem by turning academic research into commercially viable ventures. The firm is positioning itself as a key player in unlocking the commercial potential of university R&D in the North.
Deputy Mayor of Market Deeping breaks ground at brand-new development in the town
The Deputy Mayor of Market Deeping, Councillor Robert Broughton, and housebuilder Allison Homes East have officially marked the start of construction work on a brand-new development in the town.
Allison Homes East hosted a ground breaking ceremony on the site, where the Deputy Mayor of Market Deeping was able to meet with the construction team, receive a tour of the site and learn about the housebuilder’s plans for its future.
Alongside providing high-quality new homes, the housebuilder will be providing in excess of £650,000 worth of S106 contributions, which will go towards supporting the existing community and education services.
Adam Knight, Managing Director at Allison Homes East, said: “We are incredibly proud to have broken ground on our Beaufort Gardens development, and it was a pleasure to have the Deputy Mayor celebrate this achievement with us.
“Our former Market Deeping development, Beaufort Grange, was a huge success and we are very excited to be returning to the town and continuing our investment. At Allison Homes East we pride ourselves on delivering exceptional quality homes, creating places that are more than just bricks and mortar and instead communities where people can live and thrive. Now construction work is underway, we are looking forward to delivering these new homes to the highest standards.”
The Bridge and QinetiQ Sign Materials and Engineering Partnership
Bradford signs 25-year lease with Trafalgar Entertainment for flagship venue
Bradford Council has finalised a 25-year lease agreement with Trafalgar Entertainment to operate the newly restored Bradford Live venue, a key asset in the city’s cultural and economic strategy.
The former 1930s cinema has been transformed into a 3,800-seat venue, with Trafalgar Entertainment now managing operations. The long-term lease guarantees Bradford Council an annual rental income and a share of the venue’s profits, with projections suggesting the agreement could generate £17 million for the council over the contract period.
Initially expected to cost up to £25 million, the project received nearly £44 million in public funding—primarily from Bradford Council, with additional contributions from the West Yorkshire Combined Authority, central government and the Heritage Lottery Fund.
The deal follows a turbulent period after the previous operator, NEC Group, withdrew from the project in 2023. Trafalgar Entertainment has since completed major renovations and installed thousands of seats before the venue’s official opening in September. A preview concert on 1 August, featuring the Yorkshire Symphony Orchestra and community choir Bantam of the Opera, will mark the first public event in the space.
While the full events calendar has yet to be announced, the venue is expected to play a significant role in Bradford’s upcoming City of Culture year, enhancing the city’s profile and offering local economic development and tourism opportunities.
Viking Pipeline project approved to support large-scale carbon capture
The UK Government has approved the £200 million Viking onshore pipeline, enabling the development of carbon capture and storage (CCS) infrastructure on the Lincolnshire coast.
The project will see a 55-kilometre underground pipeline built from Immingham to the Theddlethorpe Gas Terminal. Captured CO₂ will then be transferred offshore to the Viking gas fields in the North Sea for long-term storage.
Led by Harbour Energy and supported by BP, the Viking CCS Pipeline is part of a broader decarbonisation strategy projected to attract up to £7 billion in investment across the Humber region by 2035. The initiative is expected to support 10,000 construction jobs and deliver £4 billion in economic value by 2030.
The pipeline’s design includes operational infrastructure such as valves, inspection and venting systems, handling facilities, and temporary construction sites.
After a six-month review by the Planning Inspectorate, which involved input from stakeholders and local authorities, the project received final consent from the Secretary of State for Energy Security and Net Zero.
The Viking fields have the potential to store up to 300 million tonnes of CO₂, with infrastructure designed to handle up to 10 million tonnes annually by the end of the decade.
National Organic Conference 2025 seeks to inspire the regen-curious
The upcoming National Organic Conference (NOC) 2025 will highlight the role of organic and regenerative practices in building more resilient and secure farming and food systems.
The flagship OF&G event takes place on Wednesday 11 June, this year hosted in the scenic Yorkshire Wolds and bringing together two experienced, pioneering organic farming families to share their insights and practices with attendees.
The day begins at Carr House Farm, managed by the Sellers family for over five generations. As stewards of a designated Site of Specific Scientific Interest (SSSI), they have embraced organic farming within their 192-hectare estate to enhance biodiversity and sustain their traditional milling and food production enterprise.
The Side Oven Bakery, established by Caroline Sellers, showcases the farm’s commitment to provenance and delivering better food security with its range of locally produced goods, where food miles are measured in metres.
The conference then moves to High Callis Farm, where Mike and Kate Stringer, third-generation tenant farmers, manage a diverse organic and partially conventional farming operation.
Their dedication to organic principles, which started following conversion in 1999, has turned their farm into a successful business model for environmental and agricultural cooperation.
OF&G interim chief executive, Steve Clarkson, emphasises the importance of such models for the future of farming; “Both the Sellers and Stringer families exemplify how integrating organic and regenerative practices can create robust farming systems that contribute significantly to our national food security.
“This conference is not only a showcase of their remarkable efforts but also an educational platform for all farmers interested in sustainable and resilient agricultural methods.”
The conference aims to foster a collaborative environment where conventional, regenerative and organic farmers can explore common ground. Attendees will gain firsthand experience of how a farmer moves towards these practices to deliver economic and ecological resilience for future generations.