Many businesses will remember the devastation that came with the recession, which hit the UK in the late 2000s. However, over more recent years, things have been on the up for many businesses, which includes those in Harrogate. A number of reports have demonstrated the growing level of success being experienced by Harrogate companies, and with the continued popularity of online purchases many of them are set to benefit from continued growth and expansion.
Just a couple of years ago, the growing success of Bettys & Taylors of Harrogate resulted in staff members enjoying a large slice of the profits, with a £2.7 million bonus. For each staff member, this equated to around six weeks’ salary, with each of the 1,293 employees receiving an average £2,000. The group had seen turnover increase by 14 percent the previous year, with pre-tax profits growing by nearly £2 million for the first time.
Another company to have enjoyed growing success levels over recent years is the lending product and software specialist, Norstrum Group. The company announced pre-tax profits of £1 million and also opened up a new office in London at the end of 2014.
Growth is expected to continue
Growth amongst businesses in the Harrogate area is expected to continue, not least because of various initiatives that are aimed at aiding expansion. It was recently reported that the Harrogate District and Wetherby area could be awarded a share of £340 million in funding, which is being made available by the European Structural and Investment Funds programme. The aim of the funding is to help small and medium sized enterprises to flourish as well as to provide support for start-up businesses in the Harrogate area.
The continued popularity of online shopping will also help to ensure the continued success of Harrogate businesses. Many companies have taken advantage of the boom in online transactions, such as Bedstar. This retailer has set up an online bed store offering plenty of choice for customers and making it quick and simple for customers to make purchases. In fact, businesses in a wide range of industries have been able to boost their overall success levels by strengthening their online presence and making their products available to not only local customers but to people on a national and even international level.
Businesses in Harrogate are now also able to benefit from a plethora of valuable advice relating to everything from available resources to funding options. This includes tips and advice for start-up businesses in the area, with free business support services such as the Enterprise Gateway scheme.