East Mids businesses turn to exports, says survey
East Midlands companies are most likely to grow by boosting their level of exports. That's the finding of Lloyds TSB Commercial Finance's Business in Britain report.
According to the survey, the region's businesses still lack the confidence to invest for growth, and are planning to concentrate on exporting goods as weak domestic demand and cost pressures continue to dent profits.
The study of more than 130 businesses in the East Midlands shows that 20 per cent expect to increase their level of investment over the coming six months, while 23 per cent plan cuts.
Businesses surveyed also implied their biggest risk is a weakening domestic market. However, almost half (46 per cent) of East Midlands firms said they expect to boost exports over the coming six months.
John Robson, regional director for Lloyds TSB Commercial in the Midlands and North, said: "With domestic demand in the doldrums, and confidence still muted, it is understandable that firms in East Midlands are worried about investing for the future. But the fact is that if businesses do not invest it could damage an already fragile recovery and result in even slower growth."
