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East Midlands businesses back pace of lockdown easing

The majority of East Midlands businesses offer the pace of easing of lockdown restrictions, according to the latest data from Lloyds Bank Commercial Banking research, with two-thirds prepared to operate at close to full capacity when COVID-19 restrictions are lifted from Monday, 12 April.

When asked whether their business would have preferred or benefitted from a different pace of easing, 60% said they preferred neither a quicker nor slower easing of restrictions.

However, a net balance of 29% of firms said they'd have preferred a faster route out of lockdown and just 11% said they would have preferred a slower easing of restrictions.

The majority of those questioned (66%) said they'll be able to operate at 80% capacity or more when restrictions for their sector are lifted.

The results of the research come a week after Lloyds Bank’s Business Barometer research revealed that UK business confidence reached a one-year high during March, having a quarter (25%) of firms saying they were planning to create new jobs within the 12 months ahead.

The East Midlands registered its highest confidence reading since February 2021, with 20% of firms likely to increase their staff levels in the next 12 months.

Amanda Dorel, regional director for that East Midlands at Lloyds Bank Commercial Banking, said: “After such a turbulent time, it’s uplifting to see that the majority of East Midlands firms will be able to operate at close to full capacity when restrictions for their sector end. This will stand the region in good stead on the road to economic recovery.

“There will undoubtedly be more challenges ahead, but we will remain by the side of companies across the region to support them through their recovery.”

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