East Midlands business confidence holds steady in April

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Business confidence in the East Midlands remained stable at 35% during April, according to the latest Business Barometer from Lloyds Bank Commercial Banking. 

Companies in the East Midlands reported slightly lower confidence in their own business prospects month-on-month, down three points at 34%. When taken alongside their optimism in the economy, up three points to 36%, this gives a headline confidence reading of 35% (the same reading as in March). 

Businesses in the East Midlands identified their top target areas for growth in the next six months as investing in their team, including hiring new staff and investing in training (37%), evolving their offering with new products or services (37%) and introducing new technology (32%).  

A net balance of 49% of businesses in the region also expect to increase staff levels over the next year, up 22 points on last month.  

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

National picture 

Overall UK business confidence held steady at 42% in April, the same level as recorded in March and February.   

While firms’ confidence in their own prospects dipped marginally by four points to 45%, their confidence in the economy rose

 link source - East Midlands Business Link General https://www.eastmidlandsbusinesslink.co.uk/mag/wp-content/uploads/2022/03/Dave-Atkinson-Lloyds-Bank-scaled-e1647599013198.jpg

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