Investment continues in the region

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COMPANIES are planning to increase investment despite a drop in confidence.

The latest Business in Britain report from Lloyds Bank has found business confidence in the south east dropped to 24 per cent compared to 28 in July last year. It is calculated as an average of respondents’ expected sales, orders and profits over the next six months

Mark Burton, regional managing director, said: ‘Businesses across the South East have been affected by economic and political uncertainty. Although this has had an impact on confidence, companies are still keen to increase investment in the first half of this year.

‘Firms in the South East are also finding it difficult to secure new employees, and so are pausing hiring plans. While Brexit negotiations continue, businesses are cautious about the next phase of the Brexit negotiations but will be watching the process closely while planning their investment expenditure.’