Businesses across the North West entered the second half of 2026 with a mixture of growth ambition and caution as global uncertainty, costs and supply-chain pressures continued to shape decisions.
Lloyds Banking Group says 87% of North West businesses surveyed have a clear view of their biggest opportunities for growth. Workforce investment, new products and services, and new technology were among the areas identified by firms as growth priorities.
Confidence has moved sharply through the year
Monthly confidence readings have fluctuated considerably in 2026, illustrating why a single survey should not be treated as a definitive measure of the regional economy. North West confidence rose strongly in May, while Lloyds’ June data showed a decline as wider uncertainty returned.
That volatility sits alongside evidence that many firms still intend to invest. Lloyds has also said up to £3.5 billion of new finance can be available to companies operating and investing across the North West during 2026 as part of its wider UK lending plans.
What this means for Liverpool businesses
For Liverpool and the wider city region, the useful takeaway is not that confidence is simply “high” or “low”. Businesses are making decisions in an environment where demand, energy costs, borrowing conditions, technology investment and global events can change quickly.
Local firms therefore have reasons for optimism, but the outlook remains uneven. Future business surveys will be most useful when read alongside employment, investment, insolvency and sector-specific data rather than as standalone forecasts of regional growth.
