WOKINGHAM businesses are some of the most confident in the UK, according to the Institute of Chartered Accountants in England and Wales (ICAEW).
It said despite a difficult year, business confidence in the South East is proving higher than anywhere else, thanks to strong sales and growth.
ICAEW’s ‘Business Confidence Monitor’ reported that profits in the region have fallen by 0.5% compared to this time last year.
The successful coronavirus vaccine rollout has since increased the likelihood of a strong economic rebound over the coming year.
Domestic sales and exports are also projected to rise sharply in 2021, as the region returns to ‘normal’ life. If achieved, the ICAEW said this could drive profits at a rate not seen in the South East for 13 years.
Harpreet Panesar, ICAEW regional director for the South East, said: “Business confidence in the [area] is higher than anywhere else in the UK, and the region’s economic structure has helped it weather the challenges of the past year.
“Businesses expect a return to growth this year, thanks to the rollout of coronavirus vaccines.
“As we look towards spring and summer, we want to see the Chancellor use the upcoming Budget to provide a bridge to sustainable and resilient economic recovery, getting people back to work, helping exporters, and investing in digital technology to make our businesses competitive in the 21st century economy.”
