'Yorkshire set to be hotbed for deals after economy received boost from Channel 4's arrival in Leeds'

Andy Wood, Yorkshire Managing Partner, Grant Thornton UK LLP, said the region's business leaders must look back on 2021 with a sense of pride.

He added: "I believe a lot of the recent successes – Leeds securing Channel 4 for its new HQ and being selected to be the home of the newly-created National Infrastructure Bank – have been the result of more than a decade’s work in creating a compelling narrative around the many benefits that Yorkshire has as a place to invest, live and work.

"This is about great people with the right skills, leading universities, diverse cities ripe with opportunity, brilliant businesses, stunning countryside and dramatic coastlines, not to mention culture, tourism and sport."

He added: "With the pandemic proving that the days of long-commutes and 9-5 office presenteeism are no longer pre-requisites to productivity and performance, I am confident that Yorkshire will continue to benefit from increased relocations as people look to move out of urban areas for a better quality of life"

Mr Wood said he was encouraged by the recent devolution deal and the election in May last year of West Yorkshire’s first-ever Metro Mayor, Tracy Brabin.

He added: "The Green Jobs Task Force established in June, to develop skills and opportunities for 1,000 young people in the low carbon economy, and more recently the launch of the £4bn+ Yorkshire Climate and Environment Plan, are sensible and forward -thinking moves, which will be vital as we look to address the greatest societal and economic challenge of our times."

During 2022, he believes attracting and retaining talent will be a major challenge for many sectors, including professional services.

He added: "With talent in demand, the smartest businesses will know how important it is to hold on to their best people, and to coach, nurture and develop them like never before. I’m sure this is also where good leadership and workplace culture are key differentiators. It’s not too hard to see that in a competitive market place, individuals will be loyal when they are interested, engaged, motivated and listened to.

"Whoever wins the talent battle will have a great advantage, it’s as simple as that."

Mr Wood said he was confident that Yorkshire will continue to be a hotbed for deals activity.

He added: "While 2021 saw two Yorkshire institutions Asda (£6.8bn) and Morrisons (nearly £10bn) acquired by global investors, the mid-market also continues to be in good shape, with many willing to transact.

"On the back of a great 2021, our deals pipeline is strong and our team is bullish about 2022. We’ve been very active in the healthcare, technology, digital transformation and infrastructure sectors this year, and expect to see further investment in these areas moving forward."

Last month, Grant Thornton UK's Business Outlook Tracker found that Yorkshire businesses' confidence held up well during the roller-coaster journey through 2021.

However, the tracker found that business confidence is facing another dip over the impact of Covid this winter.

The tracker surveyed around 600 mid-market businesses every other month during a year that began in full lockdown and was followed by a gradual exit from restrictions up to ‘Freedom Day’ in July.