North West business confidence rises in July

Business confidence in the North West rose six points during July to 49 per cent, according to the latest Business Barometer from Lloyds, taking confidence levels back above the UK average.

Companies in the north west reported higher confidence in their own trading outlook month-on-month, up four points at 58 per cent. When taken alongside their optimism in the economy, up seven points at 40 per cent, this gives a headline confidence reading of 49 per cent (versus 43 per cent in June 2026).

North west firms’ confidence in their own trading outlook was driven by an expectation of winning new clients or contracts (66 per cent), while confidence in the wider economy was driven by a stronger market demand (56 per cent).

Business confidence in the region now sits slightly above its 12-month average of 47 per cent, with its highest figure of 58 per cent in February 2026.

Looking ahead to the next six months, North West businesses identified their top target areas for growth as evolving their offering, for example by introducing new products or services (61 per cent), entering new markets (45 per cent), and investing in their team, for example through training (41 per cent).

The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide.

Chris Whittle, area director in the North West at Lloyds, said: “It’s encouraging news that business confidence is up in the North West this month. Summer can always be a busy time of year for local businesses and it’s great to see they have clear priorities in mind for the coming months, whether that’s introducing new services or entering new markets.

“As firms look to capitalise on this renewed confidence, we’ll be there to provide the support they need to help them pursue new opportunities for growth.”