Midlands shows greatest confidence
Investment in innovation and establishing new markets are key drivers for Midlands-based businesses, according a new survey.
The latest Attitudes to Business Investment survey from Lombard shows that The Midlands also ranks as the region most confident in the future with three quarters of all businesses expecting growth in 2016.
The research reveals a fifth of all respondents (20%) said that they are confident of strong growth in 2016 – with a further 55% saying that they expect to see some growth.
More than half (51%) stated that they are looking to invest for future growth
84% are looking at investment as a means of exploring new markets while 64% are looking to invest to support export activity.
Over four in five (84%) are also looking at investing to improve efficiency and therefore drive productivity.
There was an acknowledgement of the need for Government support, with 69% of Midlands businesses saying that they would like to see more done to encourage export activity and 80% wanting to see more support to drive innovation and technology.
Ian Isaac, Head of Lombard said: “It’s very encouraging to see high levels of confidence in the Heart of the England.
“The findings of the survey indicate that businesses in the region are very aware of what they need to do in order to secure ongoing and sustainable growth. Within their business plans, investment aimed at securing innovation, improving productivity and establishing strong export markets will continue to be fundamental to securing the future health of the UK economy.”
