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Optimistic firms hoping for Budget growth measures as ‘light at the end of the tunnel’ emerges

Most firms in the East are optimistic on their prospects over the coming six months but want to see measures to encourage business growth and ‘digital transformation’ in the Budget ahead of more Covid support, according to a Grant Thornton UK survey. It shows that half of firms in the region believe the Chancellor should prioritise growth, compared to around a quarter who are looking for more help on Covid.

Support for digital transformation was cited as a top priority for 48 per cent of respondents. Incentives to support low carbon business strategies (40 per cent) and help with skills investment were also on the wishlist.Overall, some 86 per cent of businesses in the East felt optimistic on their revenue growth prospects over the next six months, up eight points on December.

James Brown, partner and practice leader at Grant Thornton UK in the region, said: “Increased levels of optimism suggest business leaders are starting to see light at the end of the tunnel, no doubt driven by the ongoing success of the UK vaccine programme and the Bank of England’s predictions of a strong economic recovery. It is important that the government capitalises on this optimism as a driver for growth and backs business in the right way.”

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Last Updated ( Monday, 22 February 2021 11:05 )

 

New body launched to boost growth across Oxford-Cambridge Arc

New body launched to boost growth across Oxford-Cambridge Arc

A government plan to boost economic growth across the so-called Oxford-Cambridge Arc has been unveiled by housing minister Christopher Pincher .

The new ‘spatial frame...

Boost for Gt Yarmouth firms from offshore windfarm contract wins

Boost for Gt Yarmouth firms from offshore windfarm contract wins

Two Great Yarmouth-based firms have won significant contracts supplying offshore wind farms, reinforcing the region's ambitions to develop a major supply chain in the ...

Last Updated ( Monday, 22 February 2021 11:05 )

BT set to recruit as Ipswich R & D hub emerges as ‘key site’ for company’s future

BT set to recruit as Ipswich R & D hub emerges as ‘key site’ for company’s future

BT is planning to recruit staff at its R &D base at Adastral Park, near Ipswich, after it emerged as a key site for the company’s future under a ‘consolidation and...

Last Updated ( Monday, 15 February 2021 10:48 )

Sentiment at a five year high despite 'sombre' start to year

Business sentiment on the outlook for the year ahead in the region has jumped to its highest level in nearly five years although activity fell sharply in January as cli...

Last Updated ( Monday, 08 February 2021 10:00 )

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