The South East reported the joint highest level of business confidence of any UK region last month, it has been revealed.
The findings come from the latest Business Barometer from Lloyds Bank Commercial Banking for May which surveys more than 1,200 firms each month.
It showed companies in the South East reported higher confidence in their own prospects month-on-month - rising 21 points on April’s findings to 62% – the highest recorded for any UK region or nation in May.
When taken alongside their optimism in the economy - up 16 points to 52% - this gives a headline confidence reading of 57% - a sharp rise from the 38% in April. Nationally, UK business confidence stood at 50% - its highest since 2015.
The survey took place just before the general election was called.
Firms in our region identified their top target areas for growth in the next six months as entering new markets (44%), evolving their offering (43%), and investing in their team (37%).
Becci Wicks, regional director for the South East at Lloyds Bank Commercial Banking, said: “Such a positive outlook – particularly when it comes to firms’ own trading prospects – is a reflection of our region’s inherent creativity, resilience and ambition. The focus now will be on translating this confidence into further growth.”
