At the same time, 61% of firms said current restrictions had caused their turnovers to fall with just 14% expected trading levels to return to pre-pandemic levels in the next 12 months.
When it comes to jobs, a net balance of 10% of businesses in the region expect to reduce staff levels over the next year, up 10 points on last month.
Their economic optimism fell dramatically by 34% to stand at -10%. Overall business confidence dipped three points to -7% as the third lockdown came into force.
The biggest falls were reported in Scotland (-32% vs -9% in December), Wales (-20% vs -1% in December) and the South West (-8% vs 5% in December). But firms reported a month-on-month increase in confidence in London (up 5% to 3%), the South East (up 7% to -4%) and North West (up 8% to -5%). Yorkshire business confidence remained steady month-on-month at -4%.
Confidence in London business creeps up in January
Confidence in London business has crept up for the first time since the pandemic began. (Getty Images)
Business confidence in London rose five points during January to three per cent, according to the latest Business Barometer from Lloyds Bank.
The rise marks the first positive reading on the barometer since the Covid-19 outbreak began.
The business barometer quizzes 1,200 businesses monthly. This month companies in the capital reported higher confidence in their own business prospects month-on-month, up 11 points to nine per cent. This, combined with their views on the economy – down one point to minute two per cent – gave a headline confidence reading of 3 per cent.
Stuart Gentle Publisher at Onrec
11 Jan 2021|
Contractor Umbrella News: Business confidence grew after vaccine news
Although the UK economic recovery remained behind the global benchmark last month, news of the Covid-19 vaccine boosted business confidence for the year ahead.
The recent Lloyds Bank UK Recovery Tracker (working with IHS Market) found that while the UK overall was behind the global benchmark in November, it still outperformed the European benchmark. Twelve of the 14 sectors monitored reported a stronger output performance.
With news of the first effective Covid-19 vaccine, optimism was up among UK businesses with regards to the next 12 months ahead – this was the highest recorded since the start of the pandemic.
More than half of small or medium businesses in the East are still focussed on becoming more environmentally sustainable despite the Covid-19 pandemic.
Published:
1:15 AM January 3, 2021
East of England businesses remain focussed on becoming more environmentally sustainable despite the Covid-19 pandemic, according to a new survey.
- Credit: Getty Images/iStockphoto
More than half of small or medium businesses in the East are still focussed on becoming more environmentally sustainable despite the Covid-19 pandemic, according to a new survey.
The Lloyds Bank Commercial Banking’s Business Barometer found that becoming more environmentally sustainable was important to 53pc of firms – just one point fewer than the proportion which said the same in 2019.
Of the small or medium enterprises (SMEs) surveyed, 54pc said they had still actively worked to become greener in 2020 despite challenges and disruption caused by the pandemic.