REGIONAL SNAPSHOT

South West businesses are expecting permanent changes to their target market and see a bigger workforce in their future, following the pandemic. Managing both domestic and international supply chains following the EU/UK trade agreements are top of the agenda, along with growing revenues as lockdown restrictions are eased over the next three months.

REGIONAL HIGHLIGHTS

According to our latest survey results, optimism shines through as 80% of South West businesses believe now is the right time to invest in their business. In the next three-six months 66% of businesses expect to grow their workforce compared to what it was pre-pandemic, 40% plan on merging with or acquiring another business, and another 40% plan to on-shore new suppliers. However, businesses see the biggest barriers to growth over the next six months as; access to funding (33.33%), customer confidence (30%), and Brexit related issues (17%).

Working from home remains a hot topic as 40% of businesses believe that more remote and flexible working will help ease the skills gap, as businesses will have access to a wider talent pool, and 36% think that it will improve social mobility.