Bolton's hospitality industry is flourishing with the number of businesses in the accommodation and food sector climbing significantly over the past five years.
The borough is fast becoming known as a food and drink destination, not least for its award winning Bolton Food and Drink Festival.
Analysis of Office of National Statistics data shows that the sector grew fastest in Bolton out of all local authorities in the North West, between 2018 and 2022.
The number of hospitality businesses in Bolton grew by 38 per cent to 750 and this is set to increase under ambitious £1bn regeneration plans, which are already underway in Bolton town centre.
Work has started in Farnworth to regenerate the town centre.
Cllr Andy Morgan said: “It’s an exciting time for the town centre.
“A key part of our plans are ensuring that we have a safe environment so people of all generations can enjoy it.
“The town centre is changing, and retail is across the country.
“Part of our regeneration plans are to encourage people to live in the town centre – who will in turn use hospitality more.
"We offer a range for those in the day or those coming to the centre at night."
The number of businesses in the accommodation and food sector in Bolton has climbed significantly over the past five years, according to the new 2023 ‘Fastest-growing regional sectors’ list by iwoca, small business lender, which broke down the figures.
In the last year alone, 90 hospitality businesses were created in Bolton, as the UK hospitality recovered from the pandemic.
Despite challenges faced by many small businesses, in Bolton town centre, Dina Restaurant opened as well as Burgers To Love also last year.
The growth of the sector could mean further job opportunities for people in Bolton and across the North West given the 146,000 vacancies in the hospitality industry The number of businesses in the hospitality industry grew from from 545 in 2018 to 750 in 2022, increasing by over a third.
Bolton Council Deputy Leader, Cllr Hilary Fairclough, said: “It has been a difficult few years for hospitality but it is great to see the sector recovering well, especially here in Bolton.
“As a council we offer a wide range of support for new businesses and the fact so many hospitality entrepreneurs are choosing to set up in Bolton is a real vote of confidence in the borough.
“We are working to make our town and district centres more vibrant and attractive places to live, work and visit “Small hospitality businesses like these have a vital role to play in helping us achieve that.”
Owner of The Coffee House in Bolton town centre, David Jewitt welcomed the findings , and says that it is thanks to his company that they have continued to go from strength to strength after only opening less than a year ago.
However, he says that not all businesses are thriving in Bolton town centre, with the closure of Marks & Spencer and Clinton Cards recently announced.
David said: “We are doing really well and have had pretty steady sales, and started to grow up until just after Christmas, and it didn’t tail off in January at all.
“It’s nice to have somewhere that’s doing something really well with quality food.
“But I am incredibly surprised at Bolton being known as the fastest growing because I live in Bromley Cross, and just saw The Railway close down, which was at the heart of the community.
“A lot more pubs are also close to closing their doors.”
David also said that with The Coffee House praise being managed by an outside company helps as costs rise for other businesses.
Bury and Chorley followed, with both seeing a 37 per cent increase in their number of hospitality businesses.
Seema Desai, chief operations officer at iwoca, said: “This new analysis shows the sectors that drove SME (small, medium enterprises) growth last year, by location. It highlights clear opportunities for small businesses across these industries and areas to expand.
“Industries like accommodation and food have truly flourished in Bolton over the past few years. This year however, uncertainty will likely hit SME growth across the country as businesses grapple with high running costs. SMEs are a crucial part of life in the UK’s regions, and they need accessible finance to support their growth. Alternative lenders are this lifeline for smaller businesses, providing them with the options they need to emerge unscathed from 2023’s economic environment.”
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