Hull Post COVID-19: Brighter Times In The New Normal?

Andy Price Managing Director, Coversure Hull

COVID-19 has hit our region hard. At the time of writing there have been 207 deaths in Hull and East Yorkshire and business disruption has been unparalleled. As a commercial insurance broker at Coversure Hull we’ve heard from hundreds of clients as they’ve had to deal with temporarily closing premises, falling sales, furloughing and keeping their staff safe while keeping their businesses afloat. It’s been hard, but you know what? The vast majority of company owners we’ve helped have remained positive, determined to do what it takes to get through this and come out stronger for it. It’s an attitude that makes me believe that while things will be different post-COVID, that our fine city’s future remains bright and that there are good reasons for optimism, including:

• Hull becoming a free port – the government has announced plans for 10 free ports - designated areas where the normal tax and tariff rules of the country in which they are based do not apply – which could create 86,000 new jobs. Hull’s upgraded container facilities makes it an ideal candidate and could bring huge prosperity to the region
  
  
• The digital revolution – like most businesses we’ve seen our reliance on digital communications rise since lockdown. COVID will add huge impetus to the digital transformation revolution and with Hull having such a vibrant digital economy, local firms should be set for a business bonanza
  
  
• Population growth – an unexpected side-effect of lockdown was the realisation that businesses could work remotely and thrive. This has led to a surge in people looking to leave London and the south east’s sky-high prices and congestion and head to the coast and the country. Hull will definitely benefit from this exodus and that will keep property prices – already up 3% on 2019 – rising and new talent coming in

I’ve been in business in Hull for 15 years now and I’ve watched the city go from being an under-rated, slightly down at heel place to one that’s brimming with self-confidence, enterprise and vitality. COVID may have knocked us down, but we’re going to get back on our feet and come back stronger than ever. It’s just what this city does.