South West Business Confidence continues to rise

Monday 28th February 2022

The latest monthly survey of UK business owners conducted by Lloyds Bank Commercial Banking’s ‘Business Barometer’ revealed a further rise in business confidence in the South West. For the fuller picture please read the bulletin below which was issued today by Insider Media.

Roger Mundy, Managing Director, Beardsley Theobalds, 28th February 2022


South West Confidence Continues to Rise - Lloyds

Business confidence in the South West continued to rise during February, according to the latest Business Barometer from Lloyds Bank Commercial Banking.

While companies in the region reported lower confidence in their own business prospects month-on-month, down two points at 40 per cent, their optimism in the economy was up 18 points to 51 per cent.

This gave a headline confidence reading of 46 per cent: a second consecutive month of growth.

Elsewhere, a net balance of 39 per cent of businesses in the region expect to increase staff levels over the next year, up ten points on last month.

The Business Barometer, which questions 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.

This month's survey captured responses between 1 and 15 February, before the removal of various Covid restrictions across the nations.

David Beaumont, regional director for the South West at Lloyds Bank Commercial Banking, said: "The outlook of South West firms continues to go from strength to strength, which is testament to our region's robust and diverse economy.

"With another year of holidays closer to home on the cards for many families across the UK, our world-class tourism and hospitality industries in particular will be optimistic about a bright trading period in the months ahead.

"We will remain by the side of businesses as they continue to accelerate their post-pandemic growth plans."