As part of its work, each month Boost; Lancashire’s Business Growth Hub, works closely with the county’s business support providers, private sector leaders, trade bodies and local authorities to collate a monthly insight report on economic conditions, trends, emerging opportunities, and to understand business needs across Lancashire.
Alongside 40 other UK Growth Hubs, these insights are shared with our colleagues at central government to help inform national policy and support.
The Lancashire Growth Hub Pulse, written by Andrew Leeming, programme manager at Boost, brings together these insights into a monthly snapshot, celebrating successes, flagging concerns and outlining the challenges that matter the most to Lancashire’s businesses.
Resilience in a month of contrasts
As summer turns to autumn, Lancashire’s economy reflects a county in motion, balancing progress with setbacks, opportunities and challenges. The Growth Hub’s September pulse shows that while pressures remain, optimism, innovation and collaboration are very much part of the story.
Signs of growth and investment
Business registrations in Lancashire rose 4.5% year-on-year, a signal of entrepreneurial confidence. Significant investments also strengthen the picture. Perspex International’s £40m eco-facility in Darwen, Trutex’s £12.5m acquisition, and the Eden Project Morecambe’s recruitment phase all provide strong economic indicators.
Preston’s Animate leisure complex has already created over 300 jobs, breathing new life into the city centre, while regeneration projects such as the Harris Museum reopening and Box market activations are helping boost retail and culture.
We have also seen international trade opportunities increasing, with Lancashire firms tapping into the UK’s Global Business Innovation Programmes, opening doors in Japan, Singapore, South Korea, Germany and Switzerland across growths sectors such as semiconductors, hydrogen, robotics and advanced manufacturing.
The innovation county
Lancashire continues to punch above its weight in innovation. The new Dealroom platform is mapping and showcasing the county’s tech and innovation ecosystem, attracting attention from investors and policymakers. The Made Smarter programme is catalysing digital adoption, with SMEs in rural Whitestake investing £181k in tech upgrades. Meanwhile, the Burnley Innovation Hub – a collaboration between ALK Capital and Burnley FC – is piloting new projects across sports and manufacturing.
Real concerns
There is no denying the challenges. Business closures rose 15.6% year-on-year and we have seen negative headlines involving the relocation of EG Group and Debenham’s Burnley Hub. Recruitment difficulties remain acute, particularly in engineering, hospitality and manufacturing. Skills gaps in fabrication, welding and CNC operations continue to hold back productivity, while youth employment is challenging, with over 2,000 18-year-old expected to be NEET. SMEs also continue to report cashflow issues.
Help is here
I may sound biased, but Lancashire has one of the strongest business support landscapes in the UK. While Boost has scaled back delivery of some specific programmes, we continue to provide a fully funded Business Support Helpdesk service, connecting businesses with the right local, regional and national support.
In August, we announced our partnership with the government’s new Business Growth Service, further strengthening the resources available to businesses. I encourage you to make full use of Boost. Our website and helpdesk are here to guide you through what can often feel like a complex landscape.
For now, let’s take a moment to appreciate the breadth of support available. And where the gaps are, let’s work together to create solutions.
Looking ahead
The story of this last month is one of contrasting headlines and data. Our business landscape is evolving and with targeted support, continued collaboration and a ‘glass half full’ approach, we are well positioned to grow stronger together.
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