North West businesses are optimistic about their growth prospects for 2026 despite global turmoil and economic shocks, a new survey reveals. Tony McDonough reports
Businesses across the North West are confident in their resilience, despite economic shocks, and expect to grow in 2026, the latest Lloyds Business Barometer shows.
Carried out monthly, the business barometer takes a snapshot of the UK business sector. Its latest survey reveals 73% are confident in their ability to navigate challenges thrown up by global turmoil, in particular war in the Middle East.
It also shows 66% of North West businesses have been impacted by recent global uncertainty, with 55% citing rising costs and 37% citing supply chain disruption as the main consequences.
Three quarters of respondents are actively adjusting their strategy in response to global uncertainty. Among those taking action, 52% have introduced cost-saving measures, 33% have delayed or reduced their plans for investment and expansion and 29% have hedged against or used tools to manage currency risk.
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Chris Whittle, area director in the North West at Lloyds, said: “Business in the North West are being proactive in the face of wider pressures and this is allowing many of our firms to still feel confident about achieving growth throughout the year.
“It’s testament to the innovation and resilience that they continue to display and that provides a strong foundation for our regional prosperity.”