Yorkshire and the Humber has seen a surge in new business activity as insolvency levels easy, according to trade association R3.

R3, a UK insolvency and restructuring trade body, said 4,989 start-ups were launched in the region during September.

This marks a 19 per cent increase on August’s figures.

Dave Broadbent, chair of R3 in Yorkshire and partner at Begbies Traynor in York and Teesside, said: “Yorkshire and the Humber has shown real resilience this year, and the vigorous rise in new business creation in September underlines the region’s innovative spirit.

“We’re seeing more people start new ventures, which is a really positive sign for the regional economy.”

Meanwhile, insolvency-related activity in Yorkshire fell by six per cent to 192 cases in September.

This includes liquidator and administrator appointments and creditors’ meetings.

Mr Broadbent said: “The dip in insolvency-related activity is encouraging and suggests that more firms are managing to steady themselves after a difficult couple of years.”