Member Article

South East businesses show hunger to invest as confidence grows

Businesses in the South East have grown more confident in the UK economy and are actively investing, according to a survey by asset finance provider Lombard.

When asked about levels of confidence in the economy, 70% of the region’s firms say they are more confident than they were 12 months ago, compared with a national average of 67%.

The South East’s appetite for investment is evident in the survey results, with 51% of businesses saying they are investing to secure future growth. A further 20% are investing to replace aging equipment, while only 10% of businesses currently have no plans to invest.

A willingness to embrace technology and innovation is also revealed in the survey, with 67% of South East firms believing they would benefit from further innovation and nearly three-quarters (74%) wanting the Government to do more to encourage investment in technology.

Ian Isaac, Head of Lombard, said: “We are seeing significant levels of confidence in the UK economy, with two-thirds of firms saying they are more optimistic and half actively investing.

“Businesses are looking to invest in order to drive efficiency, increase turnover and stay ahead of the competition. Firms in the South East are clearly feeling confident and want to invest to reap those benefits. This is an encouraging picture for the region and one which puts it in a strong position.”