The success of the COVID vaccination programme helped to instil confidence within many UK businesses once more. A survey revealed that the number of confident firms is at its highest level since 2018.<\/p>\n
<\/p>\n
More than 65 per cent of companies are confident about growth forecasts over three years and are even looking to expand their business overseas.<\/p>\n
Out of those businesses without overseas operations, a fifth said they are now considering making abroad investments. This number is the highest figure recorded in the survey since it began in 2017.<\/p>\n
The survey, conducted by Santander, questioned 1,000 businesses across 14 sectors, all of which had a turnover of more than \u00a31 million.<\/p>\n
Six of these companies had an increased output in February 2021, up from three firms in January.<\/p>\n
The survey respondents said that Brexit was weighing on trade, and 35 per cent even reported higher trading costs.<\/p>\n
Additionally, a boost in business confidence was also driven by technology equipment makers meeting the demands for computers parts, industrial machinery, motor vehicles and parts in smart devices.<\/p>\n
The technology sector reported the only rise in export orders, as they invest in making their supply chains more resilient and innovative.<\/p>\n
Experts believe that \u201cThe picture should continue to improve as the vaccine rollout progresses,\u201d within the technology sector and others.<\/p>\n
However, the survey also revealed that the COVID vaccine distribution was increasing confidence within businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"
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