West Midlands businesses focusing on growth through tech investments in 2026

West Midlands businesses will be focusing on investing in new technology in 2026, according to new research. 

Lloyds’ Business Barometer says 41 per cent will focus on growth through tech investments, compared to just over a quarter (28 per cent) in 2025. 

Another third (33 per cent) of firms plan to invest in staff training in 2026, while a similar proportion (29 per cent) will be investing in research and development (R&D) to support new products or services.   

In the year ahead, West Midlands firms will be focused on upskilling their staff (50 per cent), as well as enhancing their technological capabilities (47 per cent) and securing new capital (33 per cent). 

Reflecting their investment priority, enhancing technology (50 per cent) is the area where the most of the region’s businesses say they need extra support to achieve their 2026 goals.  

The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide.  

Dave Atkinson (pictured), regional director for the West Midlands at Lloyds, said: “It's encouraging to see West Midlands businesses planning to invest in technology as well as team training – two areas that will contribute to building even stronger foundations for long-term growth.  

“We’ll be with the region’s businesses every step of the way in 2026, providing our support to help them achieve their plans.”