Hyndburn shows strongest business growth in Lancashire as new data highlights rising resilience and enterprise
Hyndburn shows strongest business growth in Lancashire as new data highlights rising resilience and enterprise
New figures from the Office for National Statistics show Hyndburn leading the way in business growth across Lancashire, with the borough recording the strongest net increase in enterprises in 2024.
The latest Business Demography data confirms that Hyndburn’s economic performance continues to strengthen. Business births have risen each year since 2022 and now account for around 5% of all new enterprises across Lancashire. The borough also outperforms the Lancashire, North West and UK averages for business birth rates, underlining the area’s growing reputation as a place where new ideas and ventures can thrive.
Business resilience has also improved. For the first time since 2020, the number of business closures has fallen, returning to levels last seen in 2021. Hyndburn’s business death rate is now lower than the Lancashire average and sits below both regional and national benchmarks, showing comparatively strong stability in the local business base.
Image: Cllr Scott Brerton, Portfolio Holder for Economic Development; David Williams, Owner of Accrin Mortgages: and Salma Chaudhry, Economic Development Manager
This combination of rising business starts and falling closures has resulted in Hyndburn achieving the strongest net business growth of any Lancashire district in 2024.
Hyndburn Council’s Economic Development Team has continued to play an active role in supporting businesses throughout the borough. Over the past year the team has delivered a busy programme of activity including:
- 186 instances of direct business support, including one‑to‑one guidance for established businesses and help for 39 new start‑ups
- 14 business workshops, covering topics from start‑up essentials to marketing tools such as Canva and emerging technology including AI
- £75,000 invested in business grants
This continued support forms part of the Council’s commitment to helping businesses start, grow and succeed, ensuring Hyndburn remains a strong and competitive place for enterprise.
Cllr Scott Brerton, Portfolio Holder for Business, Growth and Sustainability said:
“These latest figures are a credit to the resilience and ambition of local entrepreneurs who drive Hyndburn’s economy forward. The rise in business births and the strength of our overall business growth show the confidence people have in starting and investing in Hyndburn.
Our role as a Council is to stand alongside them and provide support where we can. Our Economic Development Team works hard to make sure businesses have access to advice, training and practical support when they need it, whether they are taking their first steps or looking to expand. But the real progress comes from the people who take the risk and bring their ideas to life. We are proud to support that spirit of enterprise.”
Over the past year, the Council’s Economic Development Team has provided direct support to 186 local businesses, both new and old.
Accrin Mortgages is one such business who has received direct support from the team.
David Williams, Owner of Accrin Mortgages said:
“Setting up and growing a business is never straightforward, but the support we received from the Council from 1-1 business advice from the Economic Development team through to the start-up business workshops have made a real difference at the right time. The guidance and practical help gave us the confidence to move forward and make decisions that strengthened our business. It is encouraging to see this level of support available locally and we are proud to be part of Hyndburn’s growing business community.”