Lancashire’s scaleup economy: the art of the possible

Creating the ideal environment for Lancashire’s scaleup businesses to thrive is vital to the county fulfilling its economic ambitions over the next generation.

Lancashire’s scaleup economy has seen strong and consistent growth over the past 10 years. The county is home to almost 1,000 scaleups - businesses growing 20 per cent per year over a sustained period.

The Scaleup Institute’s most recent annual review, released in November 2025, showed an average annual growth in scaleup density of 2.8 in Lancashire over the past decade. This means the county has gained an average of 2.8 more scaleup businesses per 100,000 population each year.

There was also a big increase on the previous year’s figures, 61.8 scaleups per 100,000 compared to 48.7 in 2024’s report.

This growth in scaleups has coincided with an expansion in the county’s help for fast-growing businesses from both the public and private sectors. Edge Hill University’s Productivity and Innovation Centre, launched in 2017 to help SMEs scale up, has helped more than 350 businesses to date. 

Lancashire County Council (LCC) has a number of support options for fast growing companies including its FHunded network, designed to connect businesses with debt, equity and angel funding. 

Examples include Universal Atmosphere Processing (UAP), a Lancashire-based carbon reduction technology business, which last year raised a six-figure investment sum from angel syndicates, including LCC's Fhunded Angels network to accelerate production of its innovative gas processing system.

We have seen a growing number of investors increasing their presence in the county, including PXN Ventures, which manages the British Business Bank’s Northern Powerhouse Investment Fund II and has invested in Lancashire companies including anaerobic digestion business ADTechOptima and audio and visual communications business Audiebant in the past year.

There are also new targeted business led networks for scaleups, such as Twenty, a collaboration between Brabners and Lancashire based business growth organisation Summit, which operates several exclusive groups across the county of fast-growing businesses with more than £1m turnover, designed to facilitate rapid growth and expand business leaders’ networks.

The reason for this increased range of support for Lancashire’s scaleup sector is clear. Nationally, scaleups make up just 0.8 per cent of the business population, but account for 50 per cent of SME output, about £2.19tn annually. Scaleup businesses also employ a total of 3.9m people across the UK.

The evidence shows scaleups punch above their weight in their contribution to wider economic growth, but could this contribution be even bigger in the optimal business environment?

According to the Scaleup Institute, the key barriers to scaleup growth are access to markets, talent, leadership and infrastructure – very similar challenges to those highlighted by the institute in a similar report a decade ago.

The link between increased scaleup support and the expansion of Lancashire’s scaleup economy highlights the relationship between good local decision-making and economic growth. Now think about the art of the possible if the county had greater control over how to address skills, infrastructure investment and other persistent barriers.

Brabners’ True North network is a community of purpose-led businesses committed to collaborating to support the future of the North. The feedback we consistently receive from members echoes the key growth barriers outlined in the Scaleup Institute’s report - skills, access to markets, infrastructure and investment.

Our members believe the answer lies in greater collaboration between the public and private sectors. A key part of that is increased economic decision-making at a local level, allowing policymakers to work with businesses to align skills provision with long-term local growth strategies and invest capital where it is most needed to support key sectors, such as advanced manufacturing, aerospace, energy and food and drink.

The county’s scaleup economy has already shown what is possible when public and private sector partners work together with a clear focus on growth. The next opportunity is to build an ecosystem that maximises economic growth opportunities for high-growth companies over the next generation.

Through True North, Brabners stands ready to support that ambition by convening businesses, policymakers and investors and helping shape practical conversations about the North’s economic potential.

Nikki Whittle, partner, Brabners