Lancashire Growth Hub Pulse | April 2026

10 economic themes building confidence in Lancashire  

Every month, Boost; Lancashire’s Business Growth Hub, works with private sector partners, local authorities, business groups and universities to gather intelligence on the health of the Lancashire business community. 

Alongside 40 UK Growth Hubs, this intelligence informs a national report shared with government, and the wider Lancashire business support community.

The Lancashire Growth Hub Pulse distils Lancashire’s findings into a monthly snapshot. The Pulse is a litmus test of our current collective thinking, while celebrating successes, flagging concerns and highlighting the opportunities and challenges that matter most to Lancashire’s businesses. 

April’s economic intelligence shows a Lancashire economy operating under pressure, but not without confidence. Rising costs, global uncertainty and skills challenges are shaping business decisions, yet across the county there are clear signs of momentum. Regeneration is moving forward, manufacturers are investing carefully, innovation networks are growing, and businesses are continuing to seek support.

Here are 10 key themes from April:

1. Regeneration becomes real

One of the strongest confidence signals this month is the growing visibility of regeneration activity in Lancashire. In Preston, the proposed £40m Altura development has been approved, with plans for a 30-storey residential tower, containing 218 homes, which is set to become the tallest building in Lancashire. Alongside the wider Harris Quarter momentum and the reopening of the Tram Bridge, these developments show a city with momentum.

In Morecambe, the £100m Eden Project Morecambe marked its latest milestone with the appointment of VINCI Building as main contractor. Lancaster City Council has also appointed a consultant team to develop a wider regeneration and investment strategy. Alongside Pride in Place funding, Canal Quarter regeneration, visitor economy campaigns and supplier engagement, the district is building a more rounded investment story. There are also signs of place-based confidence in other areas, including Burnley and Hyndburn.

2. Lancashire businesses delivering standout stories  

April’s intelligence highlighted a number of Lancashire businesses continuing to fly a good news flag.

CoolKit, the Lancashire-based specialist in temperature-controlled light commercial vehicles, has partnered with Kia to support the launch of its all-electric PV5 Cargo.

Breck, the Lancashire-headquartered affordable housing developer, has unveiled a £380m development pipeline covering almost 1,700 homes across 21 sites in the North of England. Blackpool’s Pleasure Beach Resort has also been recognised in Tripadvisor’s 2026 Travellers’ Choice Best of the Best Awards, ranking sixth in Europe and tenth globally in the amusement and water parks category, making it the highest-rated theme park in the UK.

Meanwhile, Thornton-based Organic Heat Exchangers is developing its patented EnergiVault ‘cold battery’ technology, which stores and releases cooling energy using binary ice crystals. The technology is already in use at sites including a pharmaceutical plant and vertical farm, with interest from organisations including the NHS and Manchester Airport Group.

3. Lancashire networks and partnerships are thriving 

Another confidence sign from April is the amount of partnership activity taking place across Lancashire. These networks are providing trusted insights, valuable introductions, new peers and context for those leading businesses.

Preston Tech Connection has generated strong conversations around innovation and collaboration, with Innovators Hive adding breadth and diversity. In Hyndburn, the first Create Local, Go Global networking event showcased the borough’s creative sector and involved around 20 students from East Lancashire Learning Group, giving them practical insight into industry and event delivery.

In Burnley, the Business Awards received a record number of applications, while the Professional Careers in the Built Environment event connected Year 9 students with employers and career pathways. West Lancashire’s Skelmersdale Ambassadors Business Network is also continuing to bring together local firms, while the North and Western Lancashire Chamber of Commerce started its 2026 BIBAs judging programme.

Lancashire’s networks and partnerships are alive and active, and if you want to find out what is going on across the county, visit the events section of the Boost website.

4. Advanced manufacturing remains a core strength  

Despite cost pressures and ongoing uncertainty, Lancashire’s manufacturing base continues to show resilience. Businesses are cautious but not standing still. Engagement with Made Smarter remains strong, firms are exploring automation and robotics, and companies such as MGS Technical Plastics are investing in machinery and capacity.

This mirrors a wider shift in manufacturing. Many firms are not pursuing growth at any cost. Instead, they are investing selectively in equipment, digital systems and production efficiency.

For manufacturers facing labour shortages, rising energy bills and margin pressure, the focus is increasingly on productivity. Lancashire’s strength lies not only in the size of its manufacturing base, but in the willingness of firms to modernise while protecting their core capabilities.

5. Defence and aerospace continue to provide strategic stability  

Lancashire’s aerospace and defence base remains a major confidence anchor for the county. The UK and Turkey have signed a major training and support agreement linked to Turkey’s Eurofighter Typhoon aircraft, with BAE Systems describing the contract as providing training, support equipment and services for the recently ordered aircraft.

That matters for Lancashire because the county is central to the UK’s combat air and aerospace capability. At the same time, Blackpool and The Fylde College has been selected as one of five new Defence Technical Excellence Colleges, part of a £175m government programme to strengthen skills in sectors including defence, advanced manufacturing, clean energy, digital and technologies.

Lancashire’s role in defence and aerospace provides an economic strength of national significance.

6. Innovation appetite is strong  

April’s intelligence points to a growing appetite for innovation across SMEs, universities, sector cluster groups and business support providers. Preston Tech Connection, Innovators Hive, ARAS-NW, Made Smarter, Knowledge Transfer Partnerships and innovation roundtables all show businesses looking for ways to improve productivity and competitiveness. It is clear that innovation is not limited to one sector. It is visible across manufacturing, digital, health, low carbon, professional services and start-ups. What is heartening is that even though many sectors face challenges, the appetite for innovation seems to be growing. 

7. AI and automation are now embedded  

Artificial intelligence is transforming Lancashire businesses across multiple sectors with SMEs using a range of market-leading AI tools for marketing support, administration and planning. Automation and robotics are also becoming serious options for businesses managing labour shortages, cost pressures and productivity challenges. With businesses grappling with wider challenges outside their control, many are seeing AI as a mini super-power, improving resilience and efficiency while helping to manage risk.

8. Lancashire’s skills challenge is increasingly a mismatch, not just a shortage  

Employers are looking for more Level 3 and Level 4+ skills, particularly in technical, digital and supervisory roles, but skills attainment varies across the county. The pressure is likely to grow, with Lancashire projected to create around 9,000 new jobs between 2026 and 2028, particularly in health and social care, construction, manufacturing and professional services.

At the same time, the available labour pool is under pressure. The latest Get Lancashire Working data shows economic inactivity has risen to 22.5%, close to its mid-2024 high of 23.3%, and claimant rates have edged up to 4.3%. There are also structural issues behind the mismatch. Employer investment in training has declined over the last decade, particularly in paid-for training, leadership development, early careers and emerging technologies.

However, there are positive signs. Lancashire’s colleges, universities, employers and public sector partners are responding through initiatives such as the Lancashire Skills Pledge, careers activity, skills competitions, employer engagement and more targeted support for workforce development. Action is being taken.

9. Lancashire’s finance and investor networks are growing

Access to finance remains a challenge for many businesses, but Lancashire’s finance ecosystem continues to mature.

Rosebud recently marked its 40th anniversary, highlighting the importance of long-term, relationship-led finance. Over the last 12 years, Rosebud has invested more than £27.5m in Lancashire businesses and helped create more than 1,400 jobs.

Fhunded also continues to build momentum, with its angel network growing to 44 members. Although deal cycles are taking longer, investor appetite remains positive and the network is strengthening the pool of capital and expertise available to Lancashire founders.

The proposed North West Mutual Bank also remains an important confidence signal, reflecting the continuing need for local finance solutions that understand SME realities.

10. Business support demand shows positive intent

The Boost business support team handled over 80 enquiries in April, with 80 per cent coming from businesses that had never used Boost before. Businesses are seeking support with funding, legislation, start-up, digital adoption and general business advice. In a tougher trading environment, it is expected that more support is required in distressed business situations. However, we are seeing many firms looking for practical ways to improve, innovate and grow. Our recent data shows that Lancashire firms are looking to move forward with confidence.

Boost is Lancashire’s business support service. We’re here to help. 

The strongest message from April is that confidence in Lancashire is being built through action.

It is visible in regeneration schemes moving forward, businesses investing carefully, colleges strengthening employer links, innovation networks growing and SMEs using technology to improve productivity.

The businesses showing confidence are the ones responding to the pressure. This is not blind optimism. Many businesses are still facing difficult challenges, but this volatile environment is nothing new, and our business leaders have become more experienced at leading through adverse times.

Naturally, seeing our Boost team receive a huge spike in new customers feels rewarding. From private sector advisers and university programmes to local authority initiatives and national schemes, the range of support available is extensive and growing. This is where Boost can help.

Our funded service is designed to help Lancashire businesses find and access the right support. Our website features a comprehensive Business Support Finder, a dedicated Business Support Help Desk, the latest events from across Lancashire, as well as useful insights.

If you are new to Boost, visit our website to find out more. If you’re already a Boost fan, keep checking our website for fresh content and information on new support.

Thank you for reading!

👉 www.boostbusinesslancashire.co.uk