Region’s businesses support the pace of easing of lockdown restrictions
The majority of West Midlands businesses support the pace of easing of lockdown restrictions with two-thirds ready to operate at close to full capacity when they are lifted from Monday.
When asked whether their business would have preferred or benefited from a different pace of easing, 56% said they preferred neither a faster nor slower easing of restrictions.
However, a net balance of 39% of firms said they would have preferred a faster route out of lockdown and just 5% said they would have preferred a slower easing of restrictions.
The majority of those questioned (67%) said they will be able to operate at 80% capacity or more when restrictions for their sector are lifted, according to the latest data from Lloyds Bank Commercial Banking research,
The results of the research come a week after Lloyds Bank’s Business Barometer research revealed that UK business confidence reached a one-year high during March, with a quarter (25%) of firms saying they were planning to create new jobs in the 12 months ahead. The West Midlands registered the highest confidence reading of any region in the UK at 27%.
Amanda Dorel, regional director for the West Midlands at Lloyds Bank Commercial Banking, said: “Businesses in the region have shown they are feeling more confident recently, but it is particularly encouraging to see that many are in a position to operate at full capacity once trading resumes.”