A new survey has revealed that UK business confidence remains high and is well above the long-term average.
The report also shows that as many as 46% of firms have plans to increase their headcount.
Lloyds Bank’s Business Barometer found that last month’s figures for confidence show an unchanged month-on-month high of 42% compared to the long-term average of 28% – one of the main factors behind this is businesses’ reduced concern about supply chain disruption after experiencing previous issues with international shipping routes.
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Commenting on the findings, Hann-Ju Ho, Senior Economist, Lloyds Bank Commercial Banking said, “With businesses reporting 42% confidence in March, this month’s figures maintain the recent improvement bringing a positive end to the first quarter of the year. Firms are showing increasing resilience which is reflected in their easing concern about supply chain disruption and energy prices.
“Businesses also continue to signal optimistic hiring intentions, although slightly down on previous months. It’s possible the impending minimum wage rises in April are beginning to come into sharper focus for businesses – especially smaller firms.”
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