14.5 C
Lancashire
Sunday, June 23, 2024

Global Financial Trends and Lancashire’s Business Future Revealed

Nestled in the heart of the UK, Lancashire boasts a vibrant business landscape with deep historical roots. 55,000 businesses already call Lancashire home, and the size of its economy is in excess of £33 billion. It’s a hub for advanced manufacturing, aerospace, and energy — to name a few. Amidst the ever-changing global financial scene, Lancashire has continually displayed resilience and adaptability.

There are many driving forces shaping the global economy. The digital transformation wave has been sweeping across industries for some time now, redefining how business is conducted. Equally impactful is the trend towards sustainability — as seen with initiatives like ESG — which is changing things dramatically not only in the energy sector but also areas like finance and banking.

Another consideration is in the realm of geopolitics. As these types of relationships evolve and change, so too do the currencies countries use for trade. A good illustration of this is in the DXY — index measuring the strength of the US dollar that is often seen as a barometer of economic health. A strong dollar can attract global investment flows into areas like Lancashire, and if changing geopolitical alliances lead to a weakening of the dollar, this could impact its ability to attract investment from abroad.

The last trend to think about is the COVID-19 pandemic. Although the world is now thankfully on the other side of it, some of the global economic trends we saw remain. The strain placed on supply chains saw businesses need to be adaptable and change processes quickly, and many of those temporary measures have now become permanent ways of doing business.

Lancashire is one of the leading centres for advanced manufacturing and engineering in the UK, and as global trends lean towards innovation, this industry should continue to thrive. The region also has a strong aerospace and defence industry, with global leader BAE Systems being Lancashire’s largest employer in the private sector. BAE has two major sites that were designated as local enterprise zones in 2011, and they will continue to be an important player in the economy.

spot_imgspot_img

Latest

Pendle Festival of Culture comes to Nelson next weekend

A family fun day bringing Pendle’s diverse communities together...

Sustainable solutions to enhance your business

You may be looking for ways to boost your...

Beat the Summer Heat With These 5 Unique St. Louis Experiences

St. Louis summers are notorious. You've got the high...

The real cost of owning a car

Owning a car can be liberating. It offers freedom...
spot_img

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

Why are Chinese Cooking Knives so Big?

You may have heard about the Chinese cooking knives...

Best Betting Sites UK for June 2024

It isn't an understatement when we say that the...

Beat the Summer Heat With These 5 Unique St. Louis Experiences

St. Louis summers are notorious. You've got the high...

Asbestos Still the Leading Cause of Workplace Deaths in the UK

Enviro Skip Hire's recent research reveals that asbestos remains...

More News

Five effective PR strategies for care home providers revealed

In the competitive social care landscape, care home providers must implement strategic public relations (PR) to enhance their visibility, build trust, and establish a...

Our guide to the best Father’s Day gifts 2024

It's nearly Father's Day and if you're still looking for the perfect gift for grumpy grandad or fusspot uncle Phil, check out our best...

9 Benefits of Outdoor Landscape Water Features

People have long been attracted to outdoor water features. These include ponds, waterfalls, and fountains. They are valued for their beauty and peaceful feeling....