Optimism still running high in march for West Midlands businesses
Businesses in the West Midlands were the joint most-optimistic of any in the country last month, according to new figures.
Business confidence in the West Midlands rose two points during March to 62% according to the latest Business Barometer from Lloyds – the joint-highest level of any UK nation or region.
Companies in the West Midlands reported higher confidence in their own business prospects month-on-month, up five points at 70%. When taken alongside their optimism in the economy, down two points to 53%, this gives a headline confidence reading of 62% (vs. 60% in February) – tied with London (62%) as the joint-highest of any UK nation or region in March.
Looking ahead to the next six months, West Midlands businesses identified their top target areas for growth as entering new markets (45%), investing in their team, for example through training (44%) and evolving their offering, for example by introducing new products or services (43%).
The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide. This data was gathered between the March 3-17, ahead of the Spring Statement.
