Forrester Boyd Reviews 2025 for Humber Businesses and Looks to 2026

Leading regional chartered accountants and business advisory firm Forrester Boyd, has reflected on business conditions across the Humber as the regional economy closes out 2025, highlighting a year where planning and financial clarity have remained front of mind for local businesses.

While international research shows some stabilisation in global business sentiment, recent Quarterly Economic Survey (QES) results from the Hull and Humber Chamber and Lincolnshire Chamber point to a flatter outlook regionally. The Q3 data indicates modest expectations for turnover and profitability alongside ongoing concerns relating to employment costs, taxation and pricing pressure.

Despite subdued short-term conditions, the Humber continues to play a strategic role within the UK economy, particularly in energy transition, manufacturing and logistics. Groups such as Future Humber have continued to champion the region, facilitating collaboration and shared insight for local businesses.

Against this backdrop, 2025 has been an important year for Forrester Boyd, which celebrated its 90th anniversary. The firm has supported owner-managed businesses, families and organisations across the Humber, Lincolnshire, and Yorkshire for nine decades, guided throughout by a focus on clear and pragmatic advice.

The firm also expanded its regional footprint with the opening of a new Leeds office, enhancing its ability to support clients in the wider Yorkshire area. This development reflects continued investment in people and services to meet evolving client needs.

Forrester Boyd’s achievements this year include being named Mid-Tier Firm of the Year at the Yorkshire Accountancy Awards, acknowledging the firm’s consistency, technical expertise and strong culture during a period where dependable advice has been particularly valued.

Throughout 2025 the firm has provided insight on issues affecting businesses, including Making Tax Digital, employment costs, regulatory change, tax legislative changes, and cashflow planning, while maintaining close engagement with the regional business community.

Commenting on the year, Mike Beckett, Chairman of Forrester Boyd, said: “2025 has been a year where many businesses have focused on stability and control. The latest survey data shows that conditions remain finely balanced, with turnover and profitability expectations relatively flat while cost and tax pressures persist.”

He added: “Our priority has been to support clients with clear, forward-looking advice that helps them make informed decisions at a time when certainty can be hard to find.”

Interest Rates and Business Impact

During 2025 the Bank of England have reduced the bank base rate by 1.00% point to a current rate of 3.75%, the lowest rate since December 2022, following a period of subdued inflation and weaker economic activity. For businesses, lower interest rates can reduce borrowing costs when finance is needed for investment or working capital. It can also ease pressures on businesses with variable-rate debt, improving cashflow in the short term.

However, Mr Beckett notes that lower interest rates do not automatically relieve all cost pressures: “While a rate reduction can help with financing costs, many businesses continue to monitor rising employment and other direct and indirect costs. It is important for firms to think strategically about how they manage debt, continued cost pressures, and cashflow in this context.”

Looking ahead to 2026

Looking forward to 2026, Forrester Boyd expects a busy period of legislative change that will influence business planning and compliance. The introduction of Making Tax Digital for Income Tax Self-Assessment will require many self-employed individuals and landlords to adjust how they record and report income, placing greater emphasis on digital systems and regular reporting.

The business community is also set to face further tax and policy changes announced in the recent Budget, reinforcing the importance of early succession and tax planning. These developments sit alongside broader reforms affecting employment costs, compliance and reporting requirements.

Mike Beckett added: “Preparation will be key in 2026. With ongoing legislative shifts and cost pressures, early planning and good advice will make a real difference in helping businesses to manage change effectively.”

Forrester Boyd says it remains committed to supporting businesses across the Humber and wider Yorkshire region, combining local insight with technical expertise as organisations plan for the year ahead.