The financial crash of 2008 may seem along time ago but its effects are still being felt across the UK, perhaps most acutely across northern towns and cities.

But – happily – Hull is bucking that trend. Buoyed by a positive year as City of Culture, the city centre economy has been lifted in recent months, primarily down to eateries and bars popping up across the locale.

Accountants specialising in foodMore than 50 new hospitality businesses have opened in the Old Town area, the well-documented development of Fruit Market has provided space for independents and small chains as well as celebrity chefs such as Gino Decampo, Marco Pierre White and possibly Jamie Oliver forming a presence in the city.

It’s a far cry from a couple of years ago when the city centre was lagging in activity outside of the traditional high street and office work.

However, it’s important not to get carried away with such a rapid rise to success. Many businesses suffer the ignominy of having to close down within the first 12 months of trading.

Business advice for food manufacturersIn order to negate this, careful management of resources and finances is required. As a first time business owner it can also be easy to fall in to common industry pitfalls.

Hemingway Bailey has many years experience providing financial and business expertise to companies varying in size from SME to blue chip. To see how you could benefit, book a meeting now!

Alan Hemingway
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Alan Hemingway

Managing Director at Hemingway Bailey
Alan’s passion is giving clients great management information to enable business owners and managers have the opportunity to make well informed decisions on their business. Professionally he qualified as a Chartered Management Account in 1994, passing all 14 of his professional exams first time and became one of the few CIMA Members in Practice in 2010.
Alan Hemingway
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