Yorkshire businesses are ready to thrive in more positive 2024: Tavia Sparks

One only needs to look at the recent growth in the Yorkshire tech and digital sector as one example of Yorkshire’s resurgence. The recent announcement of the Investment Zone in Huddersfield, Bradford, and Leeds, focused on, but not exclusive to life sciences, is another reason to be optimistic on our region’s prospects.

We predict that with increased economic stability, flattening interest rates and reduced inflation – all of which 2024 promises – progress will be steady and positive. That is not, however, to say that there is not a degree of uncertainty remaining, with elections happening in the UK and US - the market will remain somewhat susceptible to change.

Nationally, Foresight’s portfolio diversity has seen us through a fairly tumultuous year from a macro-economic perspective. We’ve more than weathered the storm and had an active year in investments, exits, new funds raised and office openings.

Closer to home, in June 2023 we were delighted to invest £6.5 million into fast-growing, Yorkshire-based, facilities management company, MSL Property Care Services, and have a strong pipeline of investments going into 2024.

Diversity is perhaps the key ingredient to Yorkshire and the North East’s continuing success as a growing economic power. As sector agnostic investors, we pride ourselves on looking for opportunity any way it may come. We have broad experience of investing across multiple diverse sectors, which is well-suited to the needs of SMEs in Yorkshire and the North East.

Green energy is a real strength for Yorkshire. It not only aligns well with our ESG and sustainability standards, but it benefits the jobs market for years to come and can transform the local economy.

With great strategy and investment, comes the opportunity to generate local impact.

Over the course of 2023, our North East fund - which invests across Yorkshire and the North East – enjoyed a successful second year and saw three closes.

It can be quite easy to point to the barriers preventing progress, but the liquidity does remain.

Part of what we are going to see in 2024 is a lot of scaling investments come into fruition, from which they will grow and mature.

Yorkshire is a region known for its ingenuity, grit, and hard work and in the new year we are looking forward to working with ambitious management teams to unlock growth and help bridge the economic gap between here and London.

I am confident that Yorkshire and the North East is going to thrive in the new year, and Foresight will be there to help.

Tavia Sparks is Senior Investment Manager in Foresight’s Yorkshire and North East team