Lancashire Growth Hub Pulse | December 2025

As Lancashire’s Growth Hub, Boost continues to work closely each month with the county’s business support providers, private sector leaders, trade bodies and local authorities to gather intelligence on economic conditions, emerging trends and business needs across Lancashire. Alongside our 40 UK Growth Hub partners, these insights are compiled into a national report shared with government to help shape future business support policy. 

The Lancashire Growth Hub Pulse, written by Andrew Leeming, programme manager at Boost, distils these findings into a monthly snapshot, celebrating successes, flagging real concerns and highlighting the opportunities and challenges facing Lancashire’s businesses. 

Cautiously optimistic

It's a term we’ve heard many times before, but Lancashire’s economy is ending the year in a ‘cautiously optimistic’ mood. Business startups continue to exceed company closures, leaving the county 0.7% net positive, with nine of our 14 districts growing. Five-year survival rates now stand at 40.2%, outperforming both the North West and UK averages. And high-growth entrepreneurs have bounced back to 290 firms, returning to levels not seen since 2018. These are signals of a place that is breeding and sustaining ambition. 

Innovation keeping Lancashire distinctive

Innovation remains one of Lancashire’s most energising bright spots this month. Two local stories that capture the momentum include Bilbeam, which has successfully tested its AI-powered digital receipts system. It’s now moving from trial to market, holding early-stage conversations with major retailers. And AIRehab is scaling rapidly with development across NHS Scotland and the US, underlining that Lancashire health-tech can compete globally. 

This momentum is being reinforced by the wider innovation support system. The University of Lancashire has secured its fourth Knowledge Transfer Partnership in 12 months, strengthening industry-academia collaboration. Meanwhile, Made Smarter is helping more manufacturers move into automation and 3D printing. Local firms are now testing practical use cases, with potential to cut lead times, reduce waste and improve productivity. 

The opportunity now is to convert this innovation pipeline into real outcomes, ensuring that bold thinkers can access the right markers, partners and staff to grow here. 

Costs rise and cash lags

Late payments and the cost of finance are repeatedly cited as the issues doing the most daily damage to SME stability and confidence. This has influenced Lancashire’s Small Business Index score, with 36% of firms expecting contraction in the next 12 months and only 11% forecasting growth.

Across employer groups the story is similar. Post-Budget expectations for recruitment and investment have deteriorated and firms are pausing decisions until they can see a clear route through the costs. What we’re hearing is not defeatism but a kind of guardedness. Businesses are delaying any proactive spend until demand, policy and confidence feels less foggy. 

Going places

Lancashire’s placemaking and investment programmes across the county continue to create visible momentum. Preston in particular is seeing progress. Major projects such as the £9m transformation of Amounderness House into new office space, the continued rollout of the Harris Quarter, and the new Tram Bridge are lifting confidence in the city. Elsewhere in the county, this investment story continues.

A £4m investment project in Nelson to transform a key site into a modern business hub has moved to its next stage, and St Annes town centre is set for major improvements thanks to a multi-million-pound investment plan. The project includes phased delivery of upgrades such as improved public spaces, better transport links and enhanced facilities to attract visitors and support local businesses. 

Such projects change market confidence of the businesses inside it. 

Post-budget blues 

The Autumn Budget continues to loom large in conversations, with tax rises dominating business anxiety. Labour-intensive sectors are most exposed. Hospitality businesses are especially concerned about the combination of wage pressure, increase supply costs and rising business rates from April 2026. Business leaders in this sector feel they are being asked to absorb too much.

Skills shortages continue to bite. Aerospace and manufacturing businesses report continued gaps in specialist technical and engineering roles, with succession risk rising as experienced workers retire faster than new talent can replace them. 

Growing supporters

Boost and our business support partners are seeing strong appetite for practical business support across a range of areas. The Boost business support helpdesk handled over 100 enquiries in November, with a noticeable uplift in re-engagement from previous Boost clients. Businesses are approaching Boost with help for financial readiness, leadership and digital capability – three core areas they see as most important in the next 12 months. 

Local programmes are also landing well. Boost’s Retail Renaissance Programme continues to generate strong feedback and is shaping a 2026 phase of support. 

Eight good Lancashire business stories that caught our eye

1.    Blackpool Pleasure Beach | £8.72m new ride for 2026
The privately owned attraction has passed major build milestones on Aviktas, a new flagship ride launching for its 130th anniversary, reinforcing Blackpool’s pull as a UK leisure destination. 

2.    What More UK | 80,000 sq ft expansion 
The housewares manufacturer has opened a huge new facility to boost capacity and automation, signalling confidence in long-term demand and Lancashire production. 

3.    Ultimate Visual Solutions | Team expansion

UVS is expanding its team after rapid growth in Lucidity video-wall software sales across UK and international markets. 

4.    Sales Geek | Global franchise growth

The sales training firm is pushing its international footprint with big wins in India and record performance in Scotland as its franchise model scales. 

5.    The Wellbeing Farm | Hosting B Lab UK board meeting 

The venue, known for its eco-friendly practices and community focus, provided an inspiring setting for discussions on advancing the B Corp movement in the UK. The event highlighted the farm’s role as a champion of purpose-drive business.

6.    Edge Hill University | Professor’s book adapted until a film  

Abigail Ward has seen her book adapted into a film showcased at the BFI London Film Festival. The book, which explores themes of identity and cultural history, highlights Edge Hill’s growing influence in creative arts and its commitment to supporting research that reaches global audiences.

7.    Lancaster University | £2m investment   

Lancaster University is investing £2 million to create a nuclear facility control room simulator, designed to train the next generation of nuclear engineers and operators. 

8.    Ainsworth Jewellers | Happy 155th

The long-standing family-run business is celebrating 155 years of trading. Founded in 1870, the store has remained in the same location and is now led by Phil Ainsworth. Phil pointed to its ability to adapt to modern trends while staying true to its core values as reasons it continues to thrive. 

Looking ahead at 2026

Lancashire heads into 2026 with its familiar blend of realism and resolve. The fundamentals remain strong; businesses are starting, surviving and innovating. Regeneration and world-leading sector strengths give Lancashire a positive platform for 2026.

Bridging the confidence gap is a priority. SMEs need breathing room on costs, a fairer payment system and clear routes into talent and markets. Through Boost and our partners, we will continue to focus on the practical support that in areas such as leadership, innovation, skills and financial readiness that helps businesses in Lancashire build momentum. 

Each month’s Pulse highlights both challenges and opportunity. But is also celebrates Lancashire people and businesses working together to drive our economy forward. We will continue to back this charge and prove, again, that partnership remains one of our greatest strengths. 

www.boostbusinesslancashire.co.uk