Business confidence across the South West has seen a marked improvement, according to the latest findings from Lloyds Bank’s Business Barometer for May.

The report reveals that overall business confidence in the region rose sharply to 45 per cent, representing a 23-point increase from April. This uplift reflects growing optimism among South West firms, both in terms of their own trading prospects and the broader economic outlook.

Confidence in individual business performance climbed by nine points to 52 per cent, while economic optimism surged by 35 points to reach 37 per cent. Combined, these figures contributed to the region’s highest headline confidence reading in recent months.

This positive shift suggests that businesses across the South West are feeling more assured about future growth and investment opportunities, despite ongoing economic challenges. The findings highlight the resilience and adaptability of the region’s business community and its readiness to embrace new opportunities.