New research from Grant Thornton UK has revealed that although hybrid working has improved productivity and well-being, many businesses in Yorkshire are still keen to see their employees spend more time in the office.

The latest Business Outlook Tracker surveyed mid-sized businesses in the region, finding that 84% have adopted a hybrid working model. Most of these businesses report significant advantages, with 95% citing increased productivity, 93% observing a positive impact on employee wellbeing, and 91% confirming that staff prefer hybrid arrangements. Additionally, 95% of respondents believe hybrid working benefits their business.

However, despite these positive outcomes, 93% of businesses still want employees to return to the office more often. This is partly due to the recognition that some activities, particularly mentoring and developing younger staff, are more effective when conducted face-to-face. 86% of businesses with hybrid working models acknowledge that it has affected their ability to adequately support and train less experienced employees.

Businesses are now seeking the right balance between flexibility and in-person collaboration to ensure productivity and professional development continue to thrive.

In Yorkshire, insolvency activity has increased significantly, with cases rising to 284 in March, up from 248 in February. This marks a notable increase in financial distress within the region, reflecting broader economic pressures affecting businesses nationwide.

The Yorkshire & Humberside region now ranks fourth in the UK for insolvency activity, behind Greater London, the North West, and East Anglia. The data, analysed by R3, highlights a continued upward trend in insolvencies across all regions of the UK, pointing to a challenging financial landscape.

Rising costs, economic volatility, and reduced consumer spending have been major factors contributing to the region’s insolvencies. Many businesses are struggling with cash flow issues, and creditor actions have become more assertive in response. Inflationary pressures and uncertainty over future economic performance compound these difficulties.

While insolvency numbers have risen, Yorkshire has also seen an increase in new business activity, with a rise in startup registrations. However, the overall outlook for businesses remains cautious, as financial instability continues to impact established companies and new ventures in the region.

The Fitzwilliam Estate has submitted a proposal to Rotherham Council to transform a cluster of disused heritage farm buildings in Wentworth into a spa hotel, complete with a swimming pool, restaurant, holiday cottages, and event space.

The site, known as Home Farm, sits adjacent to the independently owned Wentworth Woodhouse, a major heritage attraction. The development is positioned to complement tourism in the area and support local economic growth.

The plan includes the restoration of several listed buildings. The Threshing Barn is earmarked for hotel use; the Gun Park would become a restaurant; the Potting Sheds and Cart Sheds would be converted into hotel suites. The Powerhouse, a 1904 structure once supplying electricity to Wentworth Woodhouse, would be repurposed as an events and wedding venue.

The scheme also provides for new visitor parking and an additional access route via Granny Clarke’s Wood, aimed at easing traffic congestion in the village.

This investment aligns with a broader push to boost visitor numbers and spending in the region, with the Wentworth Woodhouse Preservation Trust expressing support for the proposal. The Fitzwilliam family, who retained ownership of the farm properties after selling the main estate in the 1980s, continues to manage development around the historic site.

Bradford Council has finalised a 25-year lease agreement with Trafalgar Entertainment to operate the newly restored Bradford Live venue, a key asset in the city’s cultural and economic strategy.

The former 1930s cinema has been transformed into a 3,800-seat venue, with Trafalgar Entertainment now managing operations. The long-term lease guarantees Bradford Council an annual rental income and a share of the venue’s profits, with projections suggesting the agreement could generate £17 million for the council over the contract period.

Initially expected to cost up to £25 million, the project received nearly £44 million in public funding—primarily from Bradford Council, with additional contributions from the West Yorkshire Combined Authority, central government and the Heritage Lottery Fund.

The deal follows a turbulent period after the previous operator, NEC Group, withdrew from the project in 2023. Trafalgar Entertainment has since completed major renovations and installed thousands of seats before the venue’s official opening in September. A preview concert on 1 August, featuring the Yorkshire Symphony Orchestra and community choir Bantam of the Opera, will mark the first public event in the space.

While the full events calendar has yet to be announced, the venue is expected to play a significant role in Bradford’s upcoming City of Culture year, enhancing the city’s profile and offering local economic development and tourism opportunities.