As Lancashire’s Growth Hub, Boost works 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 40 other Growth Hubs across the UK, these insights are compiled into a national report shared with central government to help shape business policy and future support.
The Lancashire Growth Hub Pulse, written by Andrew Leeming, programme manager at Boost, distils these findings into a monthly snapshot, celebrating successes, flagging concerns and highlighting the opportunities and challenges that matter most to Lancashire’s businesses.
Red rose resilience
Lancashire’s economy continues to show resilience amid global uncertainty. October’s intelligence paints a nuanced picture across key sectors such as manufacturing. While many manufacturers report strong order books, others face margin pressure from rising costs, compliance demands and a slowdown in demand.
The recent JLR cyber incident disrupted supply chains and tested smaller Lancashire suppliers’ resilience. Yet, amid the challenges were seeing some real pockets of strength. Major investments (see ‘Lancashire making headlines’ section), rising business registrations and a 36% fall in closures year-on-year point to an economy with underlying strength.
Innovation momentum
Innovation remains a bright Lancashire theme this month. The new Lancashire Innovation Plan Funding (LIPF) subgroup is co-ordinating collaborative bids and joint projects, creating a more strategic approach to regional innovation investment.
Service innovation is gathering pace. Boost-alumni, Nori HR, from Burnley, exemplifies scalable creativity with its hybrid SaaS-consultancy model, a blueprint for modern business support. The Lancashire Food Partnership is demonstrating integrated thinking in agri-food innovation, linking health, sustainability and supply chain efficiency.
Developing our workers
Skills gaps persist across sectors. Apprenticeship incentives and Skills Bootcamps have boosted youth employment but digital capability remains a weak spot, particularly among micro businesses, emphasising the need for accessible funding training.
The Lancashire Skills Hub is addressing these issues. While employer engagement remains challenging, we have seen many SMEs take advantage of the Lancashire County Council-funded Apprenticeship Incentive of £3,000 when recruiting young people under the age of 25. This has been matched with an increase in businesses registering for the Lancashire Skills Pledge and looking for ways to establish links with education, improve recruitment and increase staff retention.
Nationally-backed schemes, such as the MOD Cyber and Digital Bursary and RAF Cadet initiatives, are helping build future digital talent but the rapid pace of AI adoption threatens to widen the gap between digitally mature businesses and those yet to adopt.
Trade and policy shifts
Global trade conditions are adding complexity to the local outlook. The WTO forecasts moderate growth in 2025, although tariff uncertainty and rising costs could pressure inflation. For exporters, regulatory changes loom large. ICS2 (Import Control System 2) and France’s Regime 42 reforms will impose new compliance burdens, requiring UK firms to register for French VAT and manage filings directly.
While HMRC’s updated authorisation by declaration rules simplify certain procedures, many SMEs will need targeted support to stay compliant. These evolving regulations underline the importance of specialist support and advice.
Lancashire making headlines
Despite macro-pressures, Lancashire continues to grab headlines through major wins. GVS Filters has confirmed a £19.7million expansion in Lancaster, creating skills jobs and reinforcing the county’s manufacturing credentials. BAE Systems’ £8billion Typhoon deal with Turkey safeguards almost 6,000 jobs at Warton and Samlesbury, a major boost to regional confidence and supply-chain stability.
Five other stories that caught our eye include:
A view from the private sector
- by John Woodruffe, Turnkey Corporate
“Lancashire’s private sector shows encouraging engagement with leadership and peer-to-peer programmes, particularly in manufacturing and aerospace. Firms are embracing strategy and resilience tools to strengthen growth.
“However, we are seeing SMEs facing real pressure from inflation, limited marketing budgets and ongoing skills shortages. Despite barriers to digital adoption and ESG investment, appetite for transformation is rising. Turnkey launched its AGP Lite package and new strategy workshops, continuing Lean Six Sigma delivery for Rolls-Royce and BMW, while focussing on ESG and digital leadership readiness.”
Business support
Engagement with the Boost Business Support Helpdesk surged in October. Website visits tripled and event participation reach record levels. Demand is growing for advice on financial readiness, leadership and digital adoption. However, funded programmes such as Made Smarter remain under-used, suggesting scope to improve referral pathways.
New business registrations in Lancashire were 1,278 in October 2025; a 5.45% increase on the same period in 2024. It highlights that the county’s entrepreneurial spirit remains strong.
Relationships are the lifeblood of the Lancashire business community and there is no shortage of impressive initiatives designed to bring people together. Recent events have included the latest ‘Been There, Built That’ event, led by Preston Partnership, Pendle Business Week and the 20th anniversary of Lancashire Business View event.
Lancashire looking ahead
Lancashire enters mince pie season with its trademark blend of realism and resolve. All eyes with be on the Government’s ‘two Rs’ in November. Rachel Reeves’ budget is, once again, a much-anticipated event for Lancashire’s businesses, and the outcome of this will shape business confidence and investment.
Through Boost and our business support partners, we are calling on entrepreneurs, leaders and decision-makers to keep working together, sharing insight and supporting one another.
Each month’s Growth Hub Pulse highlights both the challenges and the opportunities but, above all, it celebrates Lancashire people working together to drive our economy forward.
We will continue to support this charge and prove that partnership is our greatest strength.
The website uses cookies.
Some are used for statistical purposes and others are set up by third party services. By clicking 'Accept all & close', you accept the use of cookies. For more information on how we use and manage cookies, please read our Cookie Policy.
