
Most businesses are optimistic about their prospects for 2025, with new surveys indicating plans for growth despite lingering economic challenges.
According to Lloyds Bank’s monthly survey of 1,200 businesses revealed that about 70% expect their turnover to rise in the coming year, an increase from 62% recorded in December 2023. Additionally, 73% of respondents expressed confidence in achieving greater profitability.
Three-quarters of surveyed companies expect improved profitability, with a fifth projecting revenue increases of over 10%.
Hann-Ju Ho, Senior Economist at Lloyds, said: “It is exciting to see that businesses have ambitious plans for next year and are confident of growth. Overall, businesses have responded well to the changing external environment. While the economic outlook has been challenging, the steps firms are taking to grow should put them in a strong position for success in 2025.”