Firms across Lincolnshire are hoping to invest more in new equipment and training but have concerns over a “skills gap,” says a new survey.
About 24 per cent of firms plan to spend more on plant and machinery, whilst 23 per cent are hoping to increase their training budget according to the latest Lincolnshire Quarterly Economic Survey.
Carried out by Lincolnshire County Council and the University of Lincoln on behalf of Lincolnshire Chamber of Commerce, the survey also found that just over 20 per cent of firms felt they were lacking the skills within their workforce to meet current business needs.
Simon Beardsley, the chamber’s chief executive, said: “Businesses are investing now in anticipation of forthcoming growth, signs of which we have been observing over the past 12 months.
“Plus, more businesses reported that they believe profitability will increase over the next 12 months, implying that they are still very optimistic for the coming year.”