▲ Chorley-based independent game studio and software development company Play XD has received a £100,000 investment from NPIF II – River Capital & GC Business Finance Smaller Loans, which is managed by River Capital & GC Business Finance as part of the Northern Powerhouse Investment Fund II.
▲ Planning specialist JLL has secured permission for nearly 160,000 sq ft of logistics space in West Lancashire on behalf of Linden Hill Capital Management. The new development of three mid-box warehouse and distribution units next to Simonswood Industrial Estate is set to bring 142 jobs to the area.
▲ Blackburn headquartered EG Group has announced a ‘strong trading and operating performance’ in 2024, alongside ‘significant growth’ in both the US and European divisions
Miranda Barker OBE Chief executive
@elancschamber
in its annual results. The petrol station and convenience store group, founded by billionaire Blackburn brothers Mohsin and Zuber Issa, said its underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by nine per cent to £782.7m.
CHAOS OF TRUMP TARIFFS DEMANDS
NEW ALLIANCES Never have we seen such international chaos in the global trading market as we have these last few weeks.
We have witnessed a deliberate sabotage of established trading balance that seems to have no winners.
Questions from our manufacturers and exporters are flooding in. When is a component not a component? How much reprocessing has to happen in the UK to make it a UK piece? Will we see cut price goods that couldn’t get into the US dumped on our markets, drowning our own products?
Can the government craft a bilateral deal with Trump that can truly unwind the issues? And if so, at what cost?
It won’t protect us from those goods forced out of the US market and undercutting ours if the rest of the world is left battling the cricket score sized “reciprocal” charges.
▲ Group55 has announced plans to move to an eight-acre site in Chorley and the creation of 50 new jobs. The business, founded 25 years ago, has enjoyed remarkable success in recent years and after a period of significant growth is relocating to expand further its services and manufacturing capacity. Currently operating across three sites in Buckshaw Village and Leyland, this move will bring all business functions together under one roof.
With the economic shock leaving the stock market reeling, there’s no Truss style vote of no confidence available to the US, and with both houses republican, there’s no place for dissent to germinate and grow.
DOWN
▼ Blackpool Pleasure Beach reported a pre-tax loss of £1.7m according to its latest accounts for the year ending March 24, 2024. Turnover remained flat at £37.3m, while costs rose sharply. The attraction says high inflation, interest rates, and ‘significant increases’ in the National Minimum Wage are key factors impacting profitability.
▼ A historic Lancashire hotel, restaurant and wedding venue has been put up for sale. The Villa Wrea Green, a country house hotel dating back to the 19th century, has appointed administrators. However, it is expected to continue trading and welcoming guests as normal as it seeks new investment. Martyn Rickels and Anthony Collier, partners at specialist business advisory firm FRP, were appointed to lead the administration and sale process.
▼ Research from the Federation of Small
Businesses (FSB) published in early April revealed that small firms’ confidence levels were in a rut amid a rising tide of costs and taxes.
Its Small Business Index (SBI) for Q1 2025 showed a ‘modest improvement’ in confidence, now at -40.7, compared to -64.5 in Q4 2024, though it still represents a very negative level.
A striking 85 per cent reported rising costs, compared to the same period last year, with nearly a quarter saying their costs had increased by more than 10 per cent – a clear sign of mounting financial pressure.
Tax was one of the main barriers to growth, with 47 per cent citing it as a key factor, marking the highest level in over a decade.
Meanwhile, business confidence in the North West dipped by two points during March, according to the latest Business Barometer from Lloyds.
LANCASHIREBUSINES SV
IEW.CO.UK
So to proactive action – we need to build new alliances, reciprocal deals for ourselves with allies near and far. At least this mutual attack has reopened a positive feeling across the European divide. More focus on onshoring and friend-shoring is needed, coming closer to self-sufficiency – but this time not because of Russia, but those we thought our friends.
It’s time for some self-protectionism and deliberate support for UK manufacturers and markets from government, national and regional.
Never has there been a better time for us to be building a Lancashire Combined Authority – with budgets coming locally that really understand a place that builds things.
Call us on 01254 356400 or visit
chamberelancs.co.uk
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