Yorkshire shows North's business success can be more than 'Manchesterism': Neil Shaw

The reality is rather different. The Humber’s role in offshore wind, Leeds’s growing health-tech ecosystem and South Yorkshire’s advanced manufacturing base demonstrate that innovation is already occurring at commercial scale here.

Look beyond the headlines and you will see that our region is developing genuine strengths in sectors that are attracting long-term investment. The result is that businesses across Yorkshire are gaining traction in sectors likely to shape the UK’s next phase of growth.

A good example is the Leeds Innovation Arc. Projected to deliver a £13 billion economic boost, it brings together universities, healthcare institutions, researchers and businesses to create one of the UK’s most significant clusters of innovation and commercial activity. More importantly, it is helping attract investment into high-growth sectors that bring together advances in technology, infrastructure and sustainability.

Crucially, this is no longer simply a long-term aspiration; it is already happening.

Businesses across our region are moving beyond research and development and into commercial scale-up. As they grow, their success becomes increasingly dependent on access to capital: developing sustainable infrastructure, commercialising new technologies and expanding into new markets all require significant investment and access to the right funding structures.

At the same time, we can see that investors are actively seeking opportunities linked to so called ‘future-economy’ sectors such as energy transition, climate innovation and infrastructure regeneration. From the conversations that we are having, it is clear that these investors are increasingly willing to back businesses that can show a credible path to revenue growth, disciplined governance and measurable commercial outcomes.

Yorkshire’s strength is that it offers all three thanks to our attractive combination of innovation, talent and a growing pipeline of investable opportunities.

That is where capital markets expertise can make a real difference. Whether through private capital raises, public listings, follow-on fundraisings, debt financing or alternative funding structures, growing businesses need access to capital solutions that support expansion while giving investors the information and governance standards they now expect.

That is particularly true for renewables, energy transition projects and large-scale regeneration initiatives. These opportunities often involve complex funding requirements, multiple stakeholders and long investment horizons. Our experience shows that securing investment is rarely just about having a strong proposition; it also requires the right corporate structure, governance framework and reporting arrangements to give investors confidence.

While the debate over ESG terminology ebbs and flows, the underlying investment principles remain firmly in place – investors continue to focus on sustainability, resilience, governance and long-term performance. In the experience of our Capital Markets team – which has helped companies raise over £2.7 billion in the last decade alone – these principles are no longer differentiators but prerequisites for attracting capital and achieving sustainable growth.

I have no doubt that Yorkshire has the ingredients needed to become one of the UK’s leading destinations for future-economy investment. With the right catalysts for growth and investment, the region can become a serious player in the UK’s innovation, energy transition and infrastructure sectors. The challenge now is ensuring ambitious businesses can access the capital, structures and market expertise required to scale. Those that can will help define the next chapter of economic growth in Yorkshire – and beyond.

Neil Shaw is Partner in the Corporate & Capital Markets team at PKF Littlejohn in Leeds