Business confidence in the South West rose for the first time in 2023, climbing 18 points to 19%, despite the uptick in inflation and corporation tax.
Businesses in the region are remaining hopeful in the economic outlook with the Chancellor’s Budget announcement "providing a sense of optimism for firms."
A survey by Lloyds Bank found companies in the South West reported higher confidence in their own business prospects month-on-month, up 10 points at 29%. When taken alongside their optimism in the economy, up 24 points to 8%, this gives a headline confidence reading of 19%.
