Yorkshire transport sector continues to grow

Yorkshire transport sector continues to grow

Yorkshire’s transport industry is the fastest growing sector in the region with the number of active companies rising by 53% in the past year.

According to the latest research by R3 there were over 4,000 transport and haulage companies in the region in February 2016, an increase of almost 1,500 since the same time last year. 

The region’s hospitality sector also experienced an increase in the number of start ups over the course of the year.

The number of active hotels in Yorkshire rose by 6.5% to over 480; pubs across the region also increased by 11% to around 1,900; and restaurants also saw a 15% increase in new businesses to more than 3,000.

Adrian Berry, chair of R3 in Yorkshire and restructuring partner at Deloitte LLP, commented: “Despite the difficulties the sector experienced last year due to the disruption at Calais and driver shortages, Yorkshire’s transport sector is yet again, proving itself to be resilient.

“Having recovered from the tougher economic landscape of 2014, the region has performed particularly well, partly due to increased activity at northern ports as companies seek alternative routes to continental Europe. 

“The uplift may also be a result of increased domestic and worldwide freight activity and lower fuel costs. However, the impact of business confidence in the eurozone remains an issue as well as uncertainty over future economic policies as the EU referendum approaches.”

Berry added: “It is also encouraging to see increased confidence and investment amongst Yorkshire’s hospitality sector which is so important to our region’s economy.”

The figures also show that the number of active companies overall in Yorkshire has been growing by an average of around 1,100 per month to reach over 194,000 in February 2016.