Figures for firms in the East of England, which includes this region, show that the confidence levels that have been on the rise since last year are continuing to increase.
Sales in the UK and overseas have risen by more than 4.5% and that improvement is bolstering profit levels by more than 4%, says the ICAEW’s research.
Business leaders remain concerned over the effect of their regulatory obligations and have warned that growth in research and development projects is expected to slow.
ICAEW East of England director Harpreet Panesar said:“As business confidence falls across the UK, it is promising to see that the East of England remains in positive territory. However, this positivity is not reflected in investment plans.
“This is a worrying trend as it is important for companies in the region to reinvest profits into research and development, capital investment and staff development.”
