South East businesses will be targeting increased productivity and upskilling their staff in 2025, according to new research from Lloyds’ Business Barometer.
While increasing revenue and profitability is firms’ top priority (51%), 36% said they will be targeting improving their productivity and 35% said they are aiming to upskill staff.
More than a fifth (21%) will be aiming to enhance their technology, such as automation or AI, while nearly a quarter (24%) want to improve their environmental sustainability.
To support their goals, more than a quarter (26%) will be investing in staff training, while a similar proportion (25%) plan to invest in increasing wages for employees.
The same proportion (25%) plan to invest in new technology, with a further 15% planning specific investments in AI.
The data also shows that many South East businesses are optimistic about new growth.
Almost three fifths (59%) expect to see turnover increase in 2025. More than a fifth (21%) of these expect to see their revenue rise by between six and 10% over the next 12 months, with nearly one in six (16%) expecting it to grow by even more. Meanwhile, 62% expect to become more profitable in 2025.
Amanda Dorel, regional director for the South East at Lloyds, said: “South East businesses have clear plans for growth in 2025, and it’s encouraging to see investments in their team at the heart of many of their strategies.
“We’ll continue to be by their side with our on-the-ground support to help make their ambitions a reality.”
