Business confidence in the East of England rose 26 points to 62% in October, the highest of the UK's 12 regions and nations and the region's best reading of the year, according to Lloyds Bank's Business Barometer, published on Friday 30 October. In September the region had been joint eighth on 36%. Firms' confidence in their own trading prospects rose 20 points to 70%, and their optimism about the wider economy rose 33 points to 55%.

The hiring signal matters most for employers and candidates: a net balance of 38% of East of England firms expect to increase staff numbers over the next year, up 9 points. Their most common growth plans for the next six months are new products or services (55%), new technology such as AI or automation (50%) and new markets (42%). Across the UK, confidence rose 6 points to 47%, well above its long-term average of 30%.

Why it mattersOne month's survey is not a trend, and the region's figure has swung sharply this year. But when firms say they plan to launch products, adopt AI and enter new markets, finance teams are usually asked to do more: price and forecast new lines, build business cases for systems spending, tighten credit control as sales grow, and report to lenders and boards on investment. Norfolk and Suffolk employers with plans of that kind should decide in November which finance roles they will need in the first quarter of 2027 and start the search before Christmas, because confident competitors are likely to be recruiting at the same time. For candidates, rising hiring intentions should mean more choice, especially for those with forecasting, systems implementation or commercial analysis experience.

Norfolk backs the £1.1bn devolution deal again

Norfolk County Council has renewed its consent to a Norfolk and Suffolk devolution deal, with an elected mayor, powers over transport, skills, housing and economic growth, and a £37.4m-a-year investment fund that the council values at more than £1.1bn over the long term, Greatest Hits Radio reported on Tuesday 27 October. Suffolk County Council's cabinet, whose consent is also needed, has put its decision back to Thursday 12 November, and the mayoral election is scheduled for May 2028.

First step towards homes on the Colman's mustard site

A planning application has been submitted to demolish some 1970s and 1980s industrial sheds and prepare part of the former Carrow Works site, home of Colman's mustard and empty for eight years, Norwich City Council said on Friday 30 October. Homes England, the council's partner, says the first phase could provide up to 300 homes, with the first due by 2029, a sizeable addition to Norwich's construction and housing pipeline.

Budget takes 70,000 more shops, pubs and cafés out of business rates

The Budget on Wednesday 28 October raised the rateable value threshold for full small business rate relief on shops, pubs, cafés and other retail, hospitality and leisure premises in England from £12,000 to £18,000 (with the taper ceiling rising from £15,000 to £21,000) from 1 April 2027, which the government estimates will take around 70,000 more businesses out of rates. On the cost side, the National Living Wage rises 3.9%, from £12.71 to £13.21 an hour, from April 2027.

Two months to the first year-end under the new FRS 102

The revised FRS 102 applies to accounting periods beginning on or after 1 January 2026, so companies with a 31 December year-end are two months from closing their first full year under it, with most leases other than short-term and low-value ones brought onto lessees' balance sheets and revenue recognised under a five-step model largely in line with IFRS 15. Replacing rent with depreciation and interest will typically raise both EBITDA and reported debt, so finance teams should check the effect on ratios and loan covenants before the year-end, and those without lease or revenue-recognition experience in house may need interim technical help.