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Economic Outlook Roundtable: What Yorkshire’s Finance Leaders Are Saying About Growth, Hiring and the Road Ahead

Senior finance professionals from across Yorkshire recently joined Sharp Consultancy for an exclusive roundtable discussion featuring an economic update from Paul Mount, Economist and Deputy Agent at the Bank of England. The session provided a timely, in-depth look at the UK’s economic landscape — followed by a candid conversation about what businesses are experiencing on the ground.The picture that emerged was one of cautious realism. While official forecasts point to easing inflation and a gradual return to stability, many organisations across the region continue to navigate weak demand, rising labour costs, tightening legislation and stalled investment projects. Yet despite these pressures, there remains a strong sense of resilience and adaptability — qualities that have long defined the Yorkshire business community. At Sharp Consultancy, our specialist finance and accountancy teams speak daily to employers and professionals across commerce, industry, public practice and the not-for-profit sector. What we heard in this session closely aligns with the insight we gather from clients and candidates across the region. Below, we explore the key themes shaping business confidence, recruitment activity and the outlook for 2026. Inflation Is Easing, but Confidence Has Yet to Follow The Bank of England outlined its latest central forecast: Inflation expected to gradually return toward the 2% target. GDP growth set to remain modest but stable through 2026. Interest rates anticipated to settle around 3.5% based on market expectations. Unemployment projected to hold near 5%. However, the sentiment in the room was clear: despite improving headline numbers, confidence across most sectors remains fragile. Many organisations described the environment as “flat” — not contracting, but unable to capitalise fully on opportunities due to economic uncertainty. Sharp Consultancy continues to see this play out: businesses are stabilising rather than expanding, focusing on cash management, operational efficiency and carefully controlled hiring. Labour Costs Continue to Reshape Workforce Strategies Wage pressures were a recurring theme throughout the discussion. Employers highlighted: Significant increases to the National Living Wage. Higher employer National Insurance contributions. Expected future changes to minimum wage equalisation for younger workers. Rising cost and complexity associated with apprenticeships. These factors are pushing up costs at every level of the workforce and reshaping recruitment behaviours. Across Sharp Consultancy’s accountancy and finance divisions, we are seeing: Strong demand for replacement hires where roles are business critical. Lower volumes of growth hires, particularly in commercial and project-focused appointments. Clients increasingly prioritising candidates who bring breadth, adaptability and long-term value. Construction & Infrastructure: Capacity Under Pressure Leaders from the construction sector painted a challenging picture — one mirrored by many Sharp Consultancy clients operating across the wider built environment. Key themes included: Planning delays of 9–10 months, particularly related to the Building Safety Act. Businesses holding on to workforce capacity despite reduced margins — a strategy that may not be sustainable in 2026. Difficulty justifying new capital expenditure under IFRS when future cashflows are uncertain. Concerns that smaller subcontractors may not withstand prolonged delays or reduced demand.Yet, attendees also highlighted that construction could become a catalyst for economic recovery — provided policy reform and planning improvements unlock stalled projects. Manufacturing: Rising Costs and Shifting OperationsLeaders representing manufacturing shared concerns around: Rising energy and operational costs. Increased frequency of site closures and offshoring. Significant challenges in attracting engineering and technical talent. Early signs of contraction in several sub-sectors, with aerospace a notable exception. These pressures reinforce the growing importance of finance leaders who can model scenarios, manage volatility and guide long-term planning — roles Sharp Consultancy continues to support across the manufacturing landscape. Charity & Public Sector Organisations Facing Acute Strain For organisations reliant on local authority funding, the challenges are particularly stark. Attendees reported: Government and council funding caps. Rising NI, wage costs and VAT changes adding millions to annual budgets. Increasingly complex consultation requirements under forthcoming employment legislation. The likelihood of significant cuts to the frontline services in the months ahead.Sharp Consultancy’s continues to work closely with organisations navigating these pressures, supporting clients through restructuring, recruitment challenges and financial planning needs. Recruitment Outlook: Stability Over Expansion Across sectors, the message was consistent: 2026 is expected to be cautious, steady and focused on maintaining capability rather than expanding headcount. Attendees forecast: Workforce levels remaining broadly flat. Hiring driven by essential replacement roles. Transformation, M&A and large-scale project hiring likely to remain subdued. Improved recruitment confidence only once interest rates and policy direction stabilise. For employers, this means sharper competition for high-quality finance talent — an area where Sharp Consultancy’s specialist teams continue to provide targeted, market-led support. What Comes Next? A Slow but Steady Rebuild Despite the challenges discussed, the roundtable ended on a constructive note. Many leaders believe that once interest rates settle and stalled investment begins to move, the region could see a more meaningful upturn — potentially from 2026 onwards. Yorkshire businesses have proven time and again that they are resourceful, resilient and ready to adapt. Sharp Consultancy remains committed to supporting them through every stage — whether stabilising teams, recruiting future leaders, or navigating the next phase of growth. If you’d like to understand what these economic trends mean for your business or team, speak to our specialist consultants for a confidential market discussion. Contacts Us

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I want to look for a new job but I’m not sure where to start – what advice would you give?

Looking for a new job can be quite a challenge and requires time, effort and lot of research to ensure that you make the right decision. At the start of a new year in particular, a number of people decide that it is time to move roles – this can make the market more competitive. Before starting your search, there are few things that you should consider which will help you find your perfect role.

Why do you want to leave your current job?

It is vital that you try and pin down the reasons why you want to look for a new role. Is there something in your current role or company that is making you unhappy? Also try to work out if this feeling of dissatisfaction has been building for some time or if it is a recent development, perhaps stemming from a return to work after a holiday or break.

Often a break from the normal work routine can make us re-evaluate our choices or can highlight some areas of unhappiness which have been bubbling under the surface for a while but you haven’t had time to think about properly. Before looking at new roles, think about whether the things that you are unhappy about can be addressed by your current employer – for example, if the daily commute is having a negative impact is there flexibility in your working hours or options to work from home? If you are frustrated about a lack of progression opportunities, are there any upcoming projects which would give you exposure to new areas of responsibility?

If, after carefully examining your options, you can’t see any plausible solutions, then it may be time to look elsewhere.

Looking for a new job takes time

Once you have made the decision to actively search for a new role, don’t just rush into applying for any vacancy which sparks a little bit of interest. It is important to consider how this potential move could impact future career choices and how it may enable you to reach your longer-term goals.

Carefully consider what you want to gain and – just as importantly – what you don’t want from your next role. Once you get swept up in the excitement of a new offer it can be very easy to overlook some details which could put you right back where you started; by identifying what your lines in the sand will be, it will enable you to address any concerns during the recruitment process.

Research, research, research…

You want to arm yourself with as much information as you possibly can. Ensure you have a clear understanding of the skills and experience needed for the type of roles you are interested in and identify any areas where you need additional training or exposure to before you start applying.

As well as considering the role you would ideally like, take time to identify suitable companies and organisations that will be a good cultural fit. For example, if you thrive in a busy office environment, you are probably not best suited to a team that is primarily home-based.

Engage with a specialist recruitment consultant

Whilst there will be a number of vacancies posted on job boards and recruitment sites which you will be able to access yourself, it is worth remembering that there will be a vast number of other potential applicants all vying for the same roles. A specialist recruitment consultant that is focused solely on your industry sector (and quite often concentrating on roles at your level of experience) will have the inside track on the most attractive opportunities currently available, some of which will never make it to stage of being advertised publicly.

A good specialist will also be able to examine your career to date to give you a steer on the best routes to achieving your longer-term ambitions as well as offer a wealth of advice on how to champion your skills and experience to make you stand out to a future employer.

Take a targeted approach

Try to avoid the temptation to apply for lots and lots of vacancies simply because they look vaguely like a role you could do or be interested in. To stand the best chance of success, each application should be tailored specifically to the requirements outlined in the job role and description; this takes time so you should be looking to focus your efforts on a handful to key opportunities at a time – aim for quality not quantity.

Don’t lose sight of the end goal

Finding a new job can be a very time-consuming process; you might hit lucky and secure the perfect opportunity from your first application but more often or not you may find yourself going through the application and interview process several times before you achieve success.

Experiencing rejection can be demoralising but ensure that you get feedback on why you didn’t make the interview shortlist or get the final nod so you can learn and focus on improving your next application. Also, don’t be swayed into accepting an opportunity that isn’t right for you – think back to why you wanted to change roles in the first place and ensure that any move that you make is a sound one.

Good luck!

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to find out more.

ASK THE EXPERT – TOP TIPS AS YOU LOOK FOR A NEW JOB

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