BUSINESS confidence in Yorkshire and the Humber appears to be resilient with levels of start-ups in the region in July higher than those in much of the UK despite companies across the UK continuing to struggle.

Latest research from insolvency and restructuring trade body, R3, which is based on an analysis of data provided by CreditSafe, shows that the number of new businesses in Yorkshire and the Humber rose by 6.5 per cent between June and July 2023. After a year of challenges and economic uncertainty, levels remained consistent year-on-year with an increase from 4,383 start-ups in the region in July 2022 to 4,452 in July 2023.

Eleanor Temple, chair of R3 in Yorkshire and a barrister at Kings Chambers in Leeds, said: “The economic climate remains very difficult with both businesses and individuals being forced to tighten their belts in the face of higher interest rates and inflation. However, it is encouraging to see that entrepreneurship appears to be alive and well. However, as we head into the winter, it is vital that directors continue to adopt a cautious approach, keeping a close eye on their finances and seeking professional advice as soon as any problems become apparent.”