East Midlands firms expecting to create more jobs as confidence increases

East Midlands businesses are currently the most confident in the country according to the latest Business Barometer from Lloyds Bank Commercial Banking.

According to the research, a net balance of 26 per cent of businesses in the East Midlands expect to hire more staff during the next year.

Business confidence in the region also rose 12 points to 15 per cent this September.

East Midlands firms reported higher levels of confidence in their business prospects, which rose 15 points to 20 per cent, and higher economic optimism, which increased by seven points to 9 per cent.

This contrasts with the overall UK picture, which saw confidence rise by just one point to 2 per cent.

Amanda Dorel, regional director for East Midlands at Lloyds Bank Commercial Banking, said: “It’s encouraging to see that business confidence in the East Midlands is the highest in the country, with local firms continuing to demonstrate ambitions for growth.

“Their growing hiring intentions also show that East Midlands businesses are preparing for upcoming opportunities to develop and invest in growth, which will help boost the local economy.

“As they do, we will continue to be by their side. We have pledged £1.3 billion to support businesses in the Midlands throughout 2019 to help make this possible.”