Business confidence in the South West fell six points during May to 30%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in the region reported lower confidence in their own business prospects month-on-month, down one point to 42% (compared to April). When taken alongside their optimism in the economy, down 11 points to 17%, this gives a headline confidence reading of 30%.
South West businesses identified their top target areas for growth in the next six months as evolving their product or service offerings (41%), diversifying into new markets, investing in teams, and introducing new technology (all at 23%).
