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.”

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.”

Aptamer Group, a developer of Optimer® binders used in drug discovery and diagnostics, reported £700,000 in revenue for the six months ending 31 December 2024—more than double the previous year’s £300,000. Its cash reserves increased to £2 million.

The company raised £2.6 million in August 2024 and reduced its fixed costs to £3 million annually. Recent milestones include human skin trials with Unilever for Optimer-based deodorant additives and successfully validating Alzheimer’s diagnostic binders. Lab-based tests with AstraZeneca have also shown promise in drug delivery for fibrosis treatments.

Commercially, Aptamer secured multiple contracts with leading pharmaceutical firms, many of them repeat customers. In December 2024, it extended a contract with a top 20 pharmaceutical company for protein purification applications. The firm’s fee-for-service pipeline supports major biotech and pharmaceutical development programmes.

Yorkshire-based accountancy firm Shenward has acquired London-based John Cumming Ross Ltd (JCR) as part of its national expansion strategy. The deal includes JCR’s subsidiary, Jaycee Comservices Ltd.

JCR, a long-established firm with over 35 years in the industry, provides services such as tax planning, audit and assurance, financial planning, and consultancy. The firm has expanded internationally and employs 27 accountancy specialists.

The acquisition aligns with Shenward’s plan to strengthen its presence in major UK cities. JCR will rebrand immediately under the Shenward name, with all employees and directors remaining in their roles. Shenward, which already operates in Leeds and Cleckheaton, aims to build on its London-based client portfolio and professional network.

The JCR acquisition will nearly double Shenward’s team and client base. The firm’s long-term strategy includes acquiring two more practices, adding a fourth partner, and expanding to a 100-person team by 2030. The acquisition was financed by Lloyds Bank, with legal services provided by Eaton Smith.