While on the face of it the North East and Yorkshire economies might not be demonstrating the same rates of growth as some other UK regions, it is home to a resilient and determined business community that is achieving great things. And, we’re excited about the prospects for the nearly 2,000 mid-market businesses based here.
There are a number of significant initiatives taking place that will help drive our future prosperity. Among them is the relocation of Channel 4 to Leeds, which will further establish the city as a hub for the creative industries and see its already thriving independent production sector boom.
And an ambitious program of infrastructure investment, not least plans for improved transport connections, across the region will help to connect the region with the talent and markets it needs to get ahead.
We expect this to provide benefits across the diversity of the region’s businesses including food & drink, healthcare and manufacturing. And one area we’re particularly excited about is the growth of tech-related businesses based in Yorkshire and the North East.
The sector may represent a diverse set of businesses, but the pace of change, significant impact of digitisation and drive for growth are common characteristics. Many firms not only have their sights set on expansion at home, but internationally too.
Mandata and NBS are just two examples of businesses in our regional portfolio that are making strides; helping their clients across property, construction and transport to benefit from technology solutions – and we’re proud to support the ambitions of this home-grown talent.
This is also one of the most affordable areas to grow a business and the region’s highly-regarded universities mean it has a strong pipeline of the kind of skills that growing tech firms need to thrive.
We’re convinced that these ingredients give the region’s digital economy a real competitive advantage and have the potential to rebalance the UK economy, bringing ever more prosperity to Yorkshire and the North East.
Throughout this update we’ve shared a selection of the region’s most impressive growth stories - both from across our portfolio and those we discovered as part of our Top 50 Most Ambitious Business Leaders programme - and they truly demonstrate the diversity of our regional economy.
These businesses, and more importantly the individuals that are driving them forward, serve to confirm that the region can and does compete and win on the national and international stage.
The support of a private equity partner can be fundamental to helping ambitious management teams to unlock the potential in their business and accelerate growth, and LDC sees a unique opportunity here. We are committed to our support of the region’s mid-sized firms.