Number of Yorkshire and Humber start-ups increases for second consecutive month

Eleanor Temple, chair of R3 in Yorkshire and a barrister at Kings Chambers in Leeds said: “In recent weeks, we’ve seen some slightly more encouraging economic signs such as the construction sector re-bounding into growth last month and the UK car market continuing to grow.

“It’s good to see some optimism returning in Yorkshire and the Humber too with an increasing number of budding entrepreneurs taking the plunge and starting their own business last month.”

February saw a positive picture for entrepreneurship across the whole of the UK with all 12 regions and nations recording a rise in start-ups over the last two months.

The largest increases were seen in Northern Ireland, which showed an 86.9 per cent increase, Wales, which was up by 70.5 per cent, and the South West, up by 63.6 per cent.

Looking at other signs of economic confidence or distress, last month saw slightly more businesses in Yorkshire and the Humber experienced insolvency-related activity, including liquidator and administrator appointments and creditors’ meetings.

The figure rose from 207 in January to 248 in February, although this was lower than the 259 businesses recorded in December.

February also saw an uplift in the number of invoices on the books of firms in Yorkshire and the Humber that had not been settled by their payment deadline, increasing from 527,448 in January to 540,399 last month.