"While businesses are adept at reacting to uncertain, fast-moving conditions, this month's results show an interesting divergence in sentiment. Smaller businesses may have remained confident because they had not yet seen an immediate change in customer demand or supply chain disruption."
"Larger firms, however, read global events more cautiously because of their closer exposure to global markets. With most responses coming in the very early stages of the Middle East conflict, we'll be watching closely to see how confidence evolves."
"As business confidence holds this month, we remain focused on supporting firms across the capital, providing the finance, guidance and expertise they may need."
In March, business confidence in London increased by two points to 61%. Companies reported a decline in confidence regarding their own prospects to 66%, while confidence in the economy rose by 10 points to 57%. A net balance of 57% of businesses expect to increase staff levels over the next year, up 12 points. The Business Barometer surveys 1,200 businesses monthly and provides early indicators of UK economic trends. Nationally, UK business confidence rose 11 points to 55%, with firms' confidence in trading prospects increasing to 60%.
Read at London Business News | Londonlovesbusiness.com
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