- UK banking industry commits to supporting customers who depend on cash
- Shared branch banking venture OneBanks welcomes UK banks’ initiative to maintain access to cash
- Quarter of managers in finance consider quitting as COVID burnout strikes says research
- Exploring central bank digital currencies: SWIFT and Accenture publish joint paper
- Moody's takes positive rating actions on 10 Italian banks
- EY and IBM announce the creation of Center of Excellence to help accelerate digital transformation for financial services institutions
- Santander and Oxentia Foundation launch Santander X Global Challenge-Helping Businesses Prosper to support SMEs’ digital transition expired
- JPIN VCATS research indicates growing interest in green investments in emerging markets expired
- deVere says more under 30s seeking financial advice expired
- SH Payments appoints CEO and expands leadership team following record growth expired
- SIA first quarter revenue up expired
- Zoho Expense aims to help mid-market businesses on their road to recovery expired
9th April 2021
UK firms back pace of COVID-19 lockdown easing says Lloyds research
The majority of UK businesses support the pace of easing of lockdown restrictions, according to the latest data from Lloyds Bank Commercial Banking research, with two-thirds ready to operate at close to full capacity when COVID-19 restrictions are lifted from 12th April.
When asked whether their business would have preferred or benefitted from a different pace of easing, 58% said they preferred neither a faster nor slower easing of restrictions. However, a net balance of 34% of firms said they would have preferred a faster route out of lockdown and just 9% said they would have preferred a slower easing of restrictions.
The majority of those questioned 66%) said they will be able to operate at near-full capacity(80% capacity) or full capacity 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, when a quarter(25%) of firms also said they were planning to create new jobs in the 12 months ahead.
Firms in the South East are most confident, with 70% of businesses in the region ready to operate at 80% capacity or more once they are permitted to reopen. Companies in the North West and the East of England also showed high levels of confidence, with two thirds(69% and 68% respectively) saying they could operate at close to full capacity. By contrast, less than half(47%) of Northern Irish firms said they will be able to operate at more than 80% capacity.
From a sector perspective, manufacturing is where the most businesses(73%) said they can operate at close to full capacity, followed by construction(68%), retail(66%) and services(64%).
Paul Gordon, Managing Director for SME and Mid Corporates, Lloyds Bank Commercial Banking, comments “Following an extremely challenging 12 months for businesses everywhere, it’s encouraging to see firms’ optimism boosted by the imminent lifting of lockdown restrictions, with the majority being ready to operate at close to full capacity. Despite these positive signs, however, there is still a great deal of uncertainty and the coming months will be crucial to the UK’s recovery. Whatever the future holds, we believe the resilience UK businesses continue to show in the face of adversity will stand them in good stead well beyond the end of lockdown.”
Lloyds Trends(842 articles)
Market information & research(4040 articles)