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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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Behind the Desk: Getting to Know Soraya Downing

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For the second instalment of Behind the Desk, we’re catching up with Soraya Downing to hear all about her journey into recruitment and beyond.

Having spent nearly six years in recruitment — and the last few focusing on Qualified and Part Qualified finance roles across South Yorkshire — Soraya shares some honest reflections on what she’s learned, what keeps her motivated, and a few things she’s picked up along the way. From F1 to strong tea, here’s a closer look at the person behind the role.

Soraya Downing, Senior Consultant at Sharp Consultancy.

Understanding the Journey: Personal Insights and Inspirations

You've been in recruitment for nearly six years now — what first attracted you to the world of finance and accountancy recruitment, and what’s kept you here?

Wow, six whole years — time really flies! I’ve always been interested in Accountancy and Finance, which started back in school when I studied Economics and Business. For me, the world of finance is like a window into the health of the UK market and how businesses are performing. It’s a constantly evolving field, which keeps things interesting and motivates me to keep learning and improving.

When you’re not working, how do you like to spend your time? Any hobbies or interests?

Outside of work, I love going on long walks and hikes, and spending quality time with my family and my partner, Simon. We enjoy going out for food and cooking together at home. I’m also a regular gym-goer — it really helps me keep balance. And when I’m relaxing, I’m a big fan of watching Formula 1!

Who or what has had the biggest influence on your professional mindset or values?

Definitely my mum. She’s always been a standout role model for me — managing stressful, high-pressure roles while still balancing work and family life. She’s always taught me to stay true to myself and to lead with integrity, which are values I carry with me every day.

Industry Perspective: Lessons and Approaches in Recruitment

Looking back on your career so far, what’s one standout lesson that’s shaped how you approach your role today?

The biggest lesson for me has been to always be myself. There’s plenty of great advice, tips, and tricks you can learn from others — and I’ve definitely picked up a lot along the way — but staying true to who I am has made the biggest difference. People buy from people, and being genuine has helped me build stronger, more honest relationships.

What’s one thing you wish more people knew about working in recruitment?

It’s definitely harder than it looks! Most people don’t last more than a year in recruitment — it takes a certain type of person to handle the highs and lows and really stick with it. It’s so much more than just sending a CV and hoping for the best. You’re dealing with people, their careers, their lives, and everything that comes with that. It’s about building trust, managing relationships, and being resilient when things don’t go to plan.

What makes recruiting for Qualified and Part Qualified roles in South Yorkshire unique or particularly rewarding?

I really enjoy speaking with senior people in the finance space — the conversations are often business related, much wider than just finance, as well as in-depth and strategic.

I love the relationship-driven aspect of recruitment at this level which adds to the enjoyment of working with both my clients and candidates. It suits me because I genuinely care about people and the positive impact the right move can have on their career, or the right hire can have on the businesses I work with.

The Person Behind the Recruiter: Fun and Light-hearted

Tea or coffee — and how do you take it?

Definitely tea — strong, dark, and two sugars please!

A steaming cup of tea in a white cup and saucer with a silver spoon on the side.

What’s your favourite way to unwind after a hectic week?

I love going for a walk or hitting the gym with my music on — it’s the best way for me to switch off. What I listen to totally depends on my mood... could be Stormzy one day and a bit of 80s the next (haha).

If you could turn back time and give yourself one piece of advice at the start of your career, what would it be?

It’s actually advice I still use now — confidence comes from putting yourself in uncomfortable situations. No matter what level you’re at, we all experience moments of doubt. Whenever I find myself in a challenging situation now, I remind myself of that, and it gives me the push I need to keep going.

The Future in Focus: Aspirations and Industry Outlook

What motivates you to keep growing and evolving as an experienced recruiter?

I’ve always loved learning — if there’s a way to become better, faster, and more efficient in my process, I’m all for it. Whether it’s through podcasts, training sessions, or learning from others in the business, I’m constantly looking for ways to improve. What really drives me is the excitement of being the best at what I do and knowing I’m adding real value to the market and to the people I work with.

 A laptop, phone, and paper document are displayed alongside a magnifying glass, suggesting a focus on detailed work.

Are there any emerging skills or qualities that you think will become more valuable for Part-Qualified Finance Professionals in the near future?

There’s definitely been an increase in demand for finance professionals with strong commercial skills. It’s not just about processing numbers — businesses want people who can add value, influence decision-making, and really understand the wider impact of finance on operations.

I’d recommend part-qualified professionals actively look for opportunities to get involved in commercial conversations, attend meetings, and contribute to decision-making processes. Building that confidence and presence early on, especially in face-to-face settings, will make a big difference to long-term progression.

From your experience, what’s one practical change you think your clients and candidates could make to improve their recruitment journey?

For my clients, I’d recommend working on an exclusive basis rather than using multiple agencies. Time and time again, I’ve seen how multi-agency approaches cause unnecessary confusion — duplicate applications, lack of control over how their brand is represented in the market, and mixed messaging to candidates. Trusting one recruiter gives you much better control of the process, a consistent message, and a more thorough market mapping approach.

For my candidates, I’d give the same advice — stick with one agency you trust. Your reputation in the market matters. If your recruiter isn’t offering to meet you in person (unless distance makes it impractical) and is relying solely on Teams, that’s a red flag. Meeting face-to-face allows us to properly understand who you are, what you’re looking for, and how to represent you in the best light. It makes all the difference in a competitive market.

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Thinking About Joining the Team?

It’s great to hear Soraya’s take. She brings such a grounded, thoughtful perspective to everything she does. Whether it’s building genuine relationships or staying curious about what’s next, it’s clear she’s got a real passion for the work and the people involved. We’re looking forward to seeing where the next part of her journey takes her

If Soraya's story has inspired you and you’re interested in building a career in recruitment with a supportive, people-focused team—we’d love to hear from you. We’re always on the lookout for passionate individuals who want to make a real impact. Get in touch for a confidential chat about life at our company and the opportunities we have available.

0113 236 6300 / 0114 261 1700 - contact@sharpconsultancy.com