Kick-starting the economy

By Ged Henderson

02 Oct 2020

If anything highlights the resilience and optimism that defines Lancashire it is the recent figures on new businesses in the county.

Despite all the challenges and problems of the last few months, in June an impressive 1,737 new businesses were registered here.

Andrew Leeming, programme manager at Boost, Lancashires business growth hub talks of a huge appetite for new business registrations in the county, surpassing that of its larger near neighbours.

Looking at the figures, he says: “That was an increase of 59 per cent on the same period last year, a bigger increase than Manchester and Liverpool over the same period.

This is testament to the resilience and entrepreneurial culture across Lancashire and a huge vote of confidence for the county as it recovers from coronavirus.

Andrew says new businesses are choosing to base themselves in Lancashire because of its brilliant business ecosystem and the growth opportunities that are available.

He adds: We have strong, established supply chains across a wide range of industries and excellent universities producing talented young people - the business leaders, employees and entrepreneurs of tomorrow.

“We also have a wide variety of private and public sector funders willing to support businesses at every stage of their growth journey.

Andrew says that despite having to find new ways of working as a result of coronavirus, the same level of guidance and support is available for new business start-ups.

He says: “In Lancashire, we have a wealth of support available across the county to help all new businesses during their first steps, and as they begin to grow.

This includes growth programmes offering practical tips on issues including finance and marketing, programmes supporting innovation and many more.

“We also have quality networks to help these new businesses bounce ideas off likeminded peers and meet advisers, potential new customers and partners.

So, what is driving people to still look to create businesses despite the impact of the pandemic and the uncertainty it brings?

Andrew says: “All great businesses start with a great idea, but the majority of new business leaders are stepping into the unknown in some way.

Some may be leading a business for the first time and others may be moving into a slightly different market than they have operated in during the past.

Mark Bradley, partner specialising in services for start-up businesses at the Blackburn office of accountants and business advisors Beever and Struthers, says starting out in business can be daunting but it doesnt need to be.

He says: The key to making a business succeed is being organised and having a well thought out and detailed plan.

Businesses fail, not because they don’t have a good business model or idea, but because they didn’t foresee that financial hurdle on the horizon in four months’ time or they hadn’t considered all the costs associated with running a business.

Both of these issues can be easily managed through the preparation of a business plan and cashflow forecast and then regular financial monitoring.

We are often approached by new start-ups and when you delve into the business it becomes clear that there is an obvious business model and, perhaps, a written plan but all too often they don’t contain any financial data or stop at the gross margin level.

Its therefore difficult to estimate what the required sales volumes are to enable the business to be successful.

  • For further Lancashire business news, advice and analysis subscribe to Lancashire Business View or join the LBV Hub from just £2.50 per month. Click here to subscribe now.

Enjoyed this? Read more from Ged Henderson

Latest news

1

Date revealed for opening of entries for Red Rose Awards 2026 Red Rose Awards 2025

Date revealed for opening of entries for Red Rose Awards 2026

14 Jul 2025

2

Northcote celebrates prestigious industry marketing award for the 25th anniversary of Culinary Festival Obsession Northcotes winning awards

Northcote celebrates prestigious industry marketing award for the 25th anniversary of Culinary Festival Obsession

14 Jul 2025

3

Applebridge take over first floor letting at Ackhurst Business Park in Chorley John Kiernan - Construction Director & Paul Troubridge - Project Director; from the Applebridge Family

Applebridge take over first floor letting at Ackhurst Business Park in Chorley

14 Jul 2025

4

Expanding Airframe Designs appoints new advisory board chairman David Roberts and Jerrod Hartley

Expanding Airframe Designs appoints new advisory board chairman

14 Jul 2025

5

Booths win gold at International Cheese and Dairy awards Cheese counter at Booths

Booths win gold at International Cheese and Dairy awards

14 Jul 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV123 July/August Launch Event
Lancashire Business View magazine launch
Networking
16 Jul 2025

LBV123 July/August Launch Event

Burnley College University Courses Building, Burnley, BB12 0AN

08:30 - 10:30

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Shaping Preston's future by remembering its past
1750160034867.png.png
LBV Hub Networking
16 Jul 2025 - 16 Jul 2025

Shaping Preston's future by remembering its past

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 20:30

Chamber Summer BBQ
LBV Hub Social
17 Jul 2025 - 17 Jul 2025

Chamber Summer BBQ

The Borough, Dalton Square, Lancaster, LA1 1PP

17:30 - 20:00

Preston Tech Connection: Web3 is Dead. Or is It?
July Longer Banner.jpg.jpg
LBV Hub Networking
29 Jul 2025 - 29 Jul 2025

Preston Tech Connection: Web3 is Dead. Or is It?

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Preston Freelancer Meet-Up: July
Longer July Banner.jpg.jpg
LBV Hub Networking
31 Jul 2025 - 31 Jul 2025

Preston Freelancer Meet-Up: July

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

North West Business Expo 2025
https---cdn.evbuc.com-images-880456273-4862066883-1-original.20241022-105445.jpeg.jpg
LBV Hub Exhibitions
24 Oct 2025 - 24 Oct 2025

North West Business Expo 2025

Bolton Stadium Hotel, Bolton, BL6 6SF

09:00 - 15:00

Lancashire Business Day 2025
241122lbvlancashiredaylhp0647web
Networking
27 Nov 2025

Lancashire Business Day 2025

Burnley FC , Burnley, BB10 4BX

12:00 - 17:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin