LEP counts cost of Covid to county business

By Tim Aldred

13 Jul 2021

lep-annual-report-press.jpg

The Lancashire Enterprise Partnership (LEP) has published a new report calculating the affect on businesses of a year living with Covid-19 and outlining how a Greater Lancashire Plan could spearhead recovery.

Headline figures in the 2020-21 annual report include:

  • A reduction in hours worked from 1,000m to 842m between April 2020 and June 2020
  • An increase in unemployment benefit claims from 3.7 per cent to 6.9 per cent from March 2020 to May 2020
  • More than 100,000 workers supported by the furlough scheme at the start of the pandemic, with around 85,000 still furloughed as of March 2021
  • A decrease in apprenticeship starts of 21 per cent compared to the previous financial year

However, the report does also praise the county's resilience and outlines its roadmap to recovery.

According to Companies House, 14,000 new businesses were registered in Lancashire between 1st April 2020 and 31st March 2021, an increase of 17.1 per cent over the previous year. Boost, Lancashire’s Business Growth Hub which, saw a 100 per cent increase in enquiries, and a 50 per cent increase in website traffic, during the height of the pandemic. 

The report also outlines how business-led Sector Groups supported the key industries most severely affected by the pandemic, including aerospace, tourism, and hospitality. Other Covid-specific responses included £34m secured from the Getting Building Fund to help bring ten major projects forward to create new jobs, homes and infrastructure.

The LEP details the Strategic Economic Framework which is being developed for the county. This will include a Social Value Charter, an Internationalisation Strategy, industry-specific Sector Recovery Plans, and a Local Industrial Strategy.

Other priority areas, such as skills and employment, stakeholder engagement, innovation, and business finance, will be addressed.

The LEP’s new Strategic Economic Framework will also help to inform the Greater Lancashire Plan (GLP), an initiative being led by local government. The GLP is Lancashire’s overarching vision for the county built on “inclusive growth, healthy communities and a cleaner world” which will be delivered through “a place-shaping strategy of public sector reform, economic growth and environmental sustainability”.

Sarah Kemp, chief executive of the LEP, said: "Like many other parts of the country, Lancashire has been hit hard by the pandemic and this report doesn’t shy away from its impact and the challenges we face as we look to recover.

"However, it also demonstrates that many of our businesses have been incredibly resilient and innovative during this difficult period, and that Lancashire’s entrepreneurial spirit has spurred on many individuals to start their own ventures.

"This, combined with the effective grass-roots business support provided by agencies like Boost, and the strategic interventions being driven by our new Sector Groups, and other LEP initiatives, means we are already stimulating new economic growth as we emerge from the grip of Covid.”

A copy of the LEP’s 2020-21 Annual Report can be downloaded from www.lancashirelep.co.uk

  • 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 Tim Aldred

Latest news

1

Roundhouse secures approval for new £15m office and industrial scheme in Preston Momentum

Roundhouse secures approval for new £15m office and industrial scheme in Preston

25 Jul 2025

2

Homebuilder's high-performing sales advisers clinch awards Ben Garland and Julia Lorente

Homebuilder's high-performing sales advisers clinch awards

24 Jul 2025

3

Work is set to start on Multiversity project Multiversity Blackpool

Work is set to start on Multiversity project

24 Jul 2025

4

BAE Systems welcomes MOU between Republic of Turkiye and UK for purchase of Typhoon aircraft Typhoon production Warton

BAE Systems welcomes MOU between Republic of Turkiye and UK for purchase of Typhoon aircraft

23 Jul 2025

5

Assystem to double UK jobs to deliver Sizewell C EDF Assystem

Assystem to double UK jobs to deliver Sizewell C

22 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
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 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

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

Preston Tech Connection: Buzz Word Bingo. Challenging Todays's Buzzwords In Tech
July PTC banner long updated.png.png
LBV Hub Networking
29 Jul 2025 - 29 Jul 2025

Preston Tech Connection: Buzz Word Bingo. Challenging Todays's Buzzwords In Tech

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

Advantage: AI – A Workshop for Business Leaders – August 14th
Navy--Event Tile.png.png
LBV Hub Seminars
14 Aug 2025 - 14 Aug 2025

Advantage: AI – A Workshop for Business Leaders – August 14th

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

09:00 - 12:00

The Business Network Central & East Lancashire
LBV Header (24).png.png
LBV Hub Networking
21 Aug 2025 - 21 Aug 2025

The Business Network Central & East Lancashire

Mytton Fold, Langho, BB6 8AB

11:30 - 14:15

Morecambe Bay Walk
Walk.jpg.jpg
LBV Hub Awards
30 Aug 2025 - 30 Aug 2025

Morecambe Bay Walk

Arnside, CARNFORTH, LA5

09:30 - 14:00

Longridge Soap Box Derby
Screenshot 2025-06-10 090035.png.png
LBV Hub Fundraisers
14 Sep 2025 - 14 Sep 2025

Longridge Soap Box Derby

Berry Lane, Longridge, PR3 3WH

10:00 - 16:30

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

Help to grow management course
Help to grow - barriers to growth.png.png
LBV Hub Seminars
26 Sep 2025 - 16 Dec 2025

Help to grow management course

Preston Campus , Preston , PR1 2HE

09:00 - 15:00

RISE - Lancashire's unique leadership programme for women
thumbnail_Emma Weston Illustration WENDY BOWERS RISE Illustrstion.jpg.jpg
LBV Hub Seminars
22 Oct 2025 - 18 Mar 2026

RISE - Lancashire's unique leadership programme for women

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:30 - 15:30

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 LBV 123 Online Graphic
Subscribe now

Weekly news bulletin