Under Pressure: The challenges facing Lancashire's sme's

By Ged Henderson

19 Jul 2023

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Lancashire Business View’s Hot 100 list of the county’s most profitable SMEs highlights the impact of the challenges and uncertainty of the last year.

The annual insight into the SME sector, the backbone of the county’s economy, features in the latest issue of the magazine, which is out now.

Among its findings are a significant 26 per cent fall in employees compared to the previous year.

However, there is still much to be optimistic about – the profit figure is an impressive £254m and total sales actually by £138m. Total revenues are also at an all-time high.

The removal of Covid government initiatives, such as loan schemes and furlough funding, as businesses continue to recover from the pandemic, has also had an impact on the overall profit number.

Lancashire Business View chairman Richard Slater says: “One key theme from this year’s Hot 100 is the bounce back that companies impacted by the pandemic are seeing.

“However, there is no doubting the uncertainty we’ve seen over the past year and the impact that has had.

“These have been challenging times but once again our businesses have faced them head on to deliver for both Lancashire and the national economy.

“Resilience, innovation and inspiration continue to be the hallmarks of our SME sector.”

In association with Woodcocks Haworth & Nuttall Solicitors, PM+M accountants and supported by Limitless Public Relations

The latest issue of Lancashire Business View also features coverage of the magazine’s Net Zero Carbon Conference which brought together experts and leaders to share their knowledge and exchange ideas.

The conference also highlighted the leading part innovative Lancashire businesses are playing in developing low carbon technologies.

In association with AMRC North West, Crowberry Consulting, Fox Group, The Wellbeing Farm, Trident Utilities and supported by Burnley College, Greenarc Vehicles, The Lancashire Colleges and Bretherton Energy Partnership.

The July/August  issue (Issue 111) includes an in-depth look at Preston’s city living strategy, examines Chorley’s success story and a debate on the turbulent times facing Lancashire’s hospitality sector.

There is also an in-depth interview with Burnley business CoolKit’s founder Rupert Gatty and a trip to British Aerospace’s Warton plant to talk to the engineers on a mission to create the UK’s first flying combat air demonstrator for a generation.

Enjoyed this? Read more from Ged Henderson

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