First Voice
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25th November 2015
Small Business: the Northern Powerhouse
It was only just over a year ago that the Chancellor, George Osborne, first announced his plan for “a Northern Powerhouse”, designed to forge closer links between Greater Manchester, Liverpool, Leeds, Sheffield, the North East, Hull and the Humber, so that “combined, they can take on the world”. The pace of the Northern Powerhouse scheme has been hectic. But what exactly is it, and what could it mean for small businesses? With a population of 11 million contributing to a quarter of UK’s economic output, Northern England’s gross value added (GVA) is larger than that of Scotland, Wales and Northern Ireland combined. If it were an independent EU state, it would rank ahead of Sweden.