Business confidence in the North West dipped slightly in March, but it’s still ahead of the UK average for the eighth month running, according to the latest Business Barometer from Lloyds.
Key points:
– Confidence dropped by two points to 59% in March
– Confidence in business prospects increased by four points to 64%
– Optimism in the economy decreased by eight points to 54%
While there’s a dip in confidence, the North West continues to outperform many other regions. This resilience is vital, especially when looking ahead to the next six months where businesses plan to:
– Invest in their teams through training (55%)
– Evolve their offerings by introducing new products or services (35%)
– Implement new technologies such as AI and automation (32%)
These growth strategies reflect a forward-thinking approach, ensuring that businesses are equipping themselves for long-term success despite current economic challenges.
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