Regional firms are confident that 2023 will bring them more success despite economic headwinds, new research suggests.
Data from a survey of decision makers carried out by Lloyds Bank shows 80% of North East businesses are confident of greater success in the next 12 months compared to the past year. Of the 100 regional businesses questioned earlier this month, just 13% said they were not confident about 2023 bringing success and 2% expected trading to remain unchanged.
A majority of 63% expect next year to bring higher turnover than 2022 and almost a quarter expect turnover to increase by between 5-19%. Meanwhile a fifth of firms expect turnover to increase by more than 20%.
