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East of England businesses show resilience in face of ongoing uncertainty

30 Sep East of England businesses show resilience in face of ongoing uncertainty

Business confidence in the East of England held firm at 4%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.

Companies in the East of England report higher confidence in their business prospects at 17%, up seven points since August. When taken alongside their views of the economy, this gives an overall confidence of 4%.

Across the region, a net balance of 24% of businesses said they felt that the UK’s exit from the European Union was having a negative impact on their expectations for business activity, up 14 points on a month ago.

Across the UK, overall confidence rose one point to 2% as firms’ confidence in their own prospects climbed five points to 13%.

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

David Atkinson, regional director for the East of England at Lloyds Bank Commercial Banking, said: “It’s encouraging that businesses in East Anglia are just as confident this month as they were in August, despite the current economic uncertainty.

“It’s easy for businesses to retreat during more testing times, but firms seem determined that they can achieve their full potential and management teams are looking towards the last quarter of the year with a positive mindset.

“At Lloyds Bank, we’re ready to stand by the side of small and medium sized businesses as they look to grow and have pledged to lend £1.7 billion to businesses in the East of England this year.”