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Regional insights

The view from the East Midlands mid-market

Every two months, we ask business leaders across the country to share their expectations and priorities for the future. We want to track how sentiment is changing in the market and get insight on timely issues: from tax to ESG.

Read the latest views from business leaders in the East Midlands.

What's changed since August 2021?

  • Business revenue optimism reduces by 12%
  • Optimism on UK economic outlook falls by 14%
  • 36% of leaders in the East Midlands expect their profit levels to reduce over the next 6 months
  • 44% of leaders in the East Midlands cited global and domestic supply chain issues as reducing their profits

120x120-david-hillian.pngDave Hillan, Partner and Practice Leader Midlands at Grant Thornton UK LLP, said:

“We are enduring a tough period where the panic buying of fuel, food and even Christmas toys has become part of our national dialogue, along with concerns about the rising costs of energy and consumer goods. Business confidence is clearly fragile, as they continue to try to recover from the pandemic but face an accumulation of challenges.

More than a third (36%) of East Midlands mid-market business leaders said they expect their profit levels to reduce over the next 6 months. This figure is up 12% compared to the summer.

Mid-market business leaders profit predictions for the next 6 months

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"The Midlands has always been famed for its productive capabilities, in fact much of the UK relies on this region’s ability to manufacture, store and move products. As the supply chain issues bite however, many of the businesses that rely on this easy flow of goods, materials, ideas and innovations will increasingly struggle. 44% of leaders in the East Midlands cited global and domestic supply chain issues as reducing their profits."

“Businesses will need to continue to draw on the agility and resilience they have already demonstrated so well over the past 18 months to safeguard their business through the winter and into 2022.”

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