Andy Wood, the Yorkshire managing partner for business advisers Grant Thornton, said he was excited about prospects for the region’s fast-growing technology sector.
Making his predictions for 2021, Mr Wood said: “The turn of the year always brings a sense of optimism, more so than ever in 2021 as we look forward to the roll-out of the Covid-19 vaccine into the wider population.
“I am proud of Yorkshire’s resilience over the last 12 months, this, alongside more devolved powers and sustained investment into the levelling-up agenda from the Government makes me very positive for 2021, despite the headwinds we expect to see in the first quarter as Covid continues to impact and the post-Brexit trading relationship with the EU is embedded.”
Mr Wood added: “From a sector perspective, I am particularly excited by the opportunities for Yorkshire and Leeds City Region in technology, and health-tech – our advisory teams are very active in this space.
“We expect to see strong deal flow in the early part of the year as the private equity sector has a lot of money to invest and business owners and entrepreneurs look to complete transactions ahead of potential changes to capital gains tax.”
Yorkshire’s leading role in developing world-class technology businesses was highlighted in a new report.
The report launched by London Tech Week and UK Tech Cluster Group cited what it called an “encouraging geographical shift” with leading global tech brands choosing to set up a base in places like Leeds.
Recent research from GP Bullhound highlights that the fastest-growing northern tech companies are well distributed across the whole of the region, but particularly in the North West and Yorkshire.
Digital Minister, Caroline Dinenage, said: “It is great to see the growth of the tech sector across the UK’s regions and nations helping to create jobs, attract investment and drive economic recovery.”
The report praises established digital brands in Yorkshire such as Leeds-based security firm Crisp, Sheffield entertainment firm Zoo Digital, and Hull-based internet provider KCOM.
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