Confidence In Welsh Businesses Soars

by Jamie Adrankone

Confidence In Welsh Businesses Soars

Recent findings have shown a huge surge in confidence for businesses in Wales, with levels rising at the fastest rate compared with other regions in the UK.

According to the latest Business Barometer survey from Lloyds Bank Business, confidence in Welsh enterprises rose 27 points in September to reach 46 per cent.

While this is the same percentage across the UK, the rate of increase for Welsh firms was far greater compared with nationally, with business confidence only climbing ten points over the month.

Amanda Dorel, regional director for Wales at Lloyds Bank Commercial Banking, told Business Live this is particularly promising news given how cautious the country has been in easing coronavirus restrictions, which has had an impact on businesses.

“But there is a real sense now that businesses are in a much stronger position than they have been since the coronavirus outbreak,” she stated.

Ms Dorel noted this confidence will be very welcome in the weeks ahead as Welsh businesses are facing several challenges at the moment, including the fuel crisis and supply chain problems.

“Whatever the coming weeks and months bring we’ll continue to be there to support Welsh businesses,” she went on to say.

The next biggest rise in business confidence was experienced in Yorkshire and the Humber, with levels rising by 22 points over the month.

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