Business confidence on the rise again in the South East
Lloyds Bank’s Business Barometer shows most firms see better prospects
BUSINESS confidence in the South East improved for a third month in a row in March, climbing two points to 45 per cent, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
While firms’ optimism in the economy fell two points to 36 per cent, companies in the South East reported higher confidence in their own business prospects month-onmonth, up four points at 53 per cent.
Taken together, this gives a headline confidence reading of 45 per cent (versus 43 per cent in February).
Looking ahead to the next six months, South East businesses identified their top target areas for growth as evolving their offering, for example by introducing new products or services (43 per cent), investing on their team, for example by hiring new staff or investing in training (37 per cent) and entering new markets, for example by diversifying into adjacent markets or exporting to new ones (33 per cent).
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
Regional director for the South East at Lloyds Bank Commercial Banking Becci Wicks said: “It’s not just great news that South East confidence has continued to go from strength-to-strength this year – it’s particularly encouraging that it’s doing so because businesses feel more and more optimistic about their own prospects, even amid what are still challenging and fast-changing economic conditions.
“We know the region’s firms have big ambitions to build on this confidence in the months to come and unlock new opportunities for growth.
“Whatever their plans, we’ll continue to be by their side with our support.”