Brighter future for Yorkshire industry

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Yorkshire manufacturers appear to be in a healthier position than their rivals across the rest of the country.

The news comes as insolvency rates among companies in Yorkshire and the North East have been falling faster than any other part of the country.

Research by the insolvency trade body, R3, shows the percentage of Yorkshire and the Humber’s 9,519 manufacturers facing an above-normal risk of insolvency in the coming year has fallen from 22 per cent to 20 per cent.

Yorkshire R3 committee member Gareth Self, an insolvency practitioner within the P&A Group of corporate and debt recovery specialists in Sheffield, said: “Manufacturers in Yorkshire and the Humber have shown tremendous resilience in recent years and are performing well compared to other regions.”

However, he stressed it was important not to be complacent, despite the positive signs.

Insolvency rates among companies in Yorkshire and the North East fell faster than in any other part of the country during September, according to business information specialist Experian.

The rate of insolvencies in Yorkshire fell from 12 failures for every 10,000 businesses to nine, however, Yorkshire had the third highest rate, along with the West Midlands and Wales.

Failures in the East Midlands fell from eight out of every 10,000 businesses to five – lower than any other region, apart from Scotland, where failures fell from six out of every 10,000 to four.

Experian says insolvencies among companies employing more than 501 employees fell and companies with 100 to 501 employees had the biggest reduction.

Experian Business Information Services’ Max Firth said: “The drop in larger company insolvencies is welcome news.”