Monthly business barometer from Lloyds Bank shows a sharp rise in business confidence among North West firms in January. Tony McDonough reports
North West firms are feeling more upbeat about their prospects for 2026, a new survey has revealed.
According to the latest monthly Business Barometer from Lloyds, Companies in the North West reported higher confidence in their own business prospects month-on-month, up 19 points at 70%.
When taken alongside their optimism in the economy, down one point at 26%, this gives a headline confidence reading of 48% (vs. 39% in December 2025).
A net balance of 45% of businesses in the region also expect to increase staff levels over the next year, up five points on last month. This renewed appetite for growth among North West firms was also evidenced in a BDO survey published by LBN last week.
Looking ahead to the next six months, North West businesses identified their top target areas for growth as evolving their offer, for example, introducing new products or services (54%), introducing new technology like AI (38%) and entering new markets (35%).
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Jenny France, area director in the North West at Lloyds, said: “It’s great to see North West businesses starting the year with real optimism and feeling positive about their own trading prospects in the coming months.
“This month’s data shows that firms have ambitious plans for 2026, whether that’s developing new services or investing in technology, and we’ll be there to support them as they pursue their growth ambitions.”