Strong Performance For Yorkshire Manufacturing

Chancellor Reveals Financial Support For Health Service

04.12.2014

Yorkshire's manufacturing sector continues its strong performance, with only 17.2% of manufacturing firms in the county having an elevated risk of insolvency, according to insolvency trade body R3.

In its figures from November, the association said this was the smallest proportion of any of the 11 regions surveyed in England, Wales and Northern Ireland.

The East Midlands and Northern Ireland also showed resilience, with 17.9% of firms at a higher than normal risk of insolvency, while London was the weakest performer with more than a quarter of its manufacturing firms at risk.

Yorkshire also saw a decrease of over 1% in its proportion of high-risk businesses compared with October's figures. Overall, 356 of the county's 11,577 were deemed to be at increased risk of insolvency.

William Ballmann, chairman of R3 in Yorkshire, said: "Despite concerns that growth in manufacturing is slowing, the sector appears to be fairly resilient across the country and it is encouraging to see Yorkshire putting in the top performance in the UK last month which bodes well for employment in the region."

Expert Opinion
Yorkshire’s globally competitive advanced manufacturing supply chain is growing and as a consequence becoming more resilient to continued political and economic uncertainty. This is confirmed by the data recorded by R3 which is encouraging.

"Nearly every manufacturer I meet has a positive story to tell regarding the domestic or export led growth they are experiencing. Irwin Mitchell are ready, willing and able to support manufacturers by providing the commercially focussed legal advice that this continued growth will require."
Dorrien Peters, Partner