More than half of UK businesses are delaying investment decisions until after the Autumn Budget, according to new research from the Barclays Business Prosperity Index. The survey, conducted among 1,000 business decision makers, found that 55 per cent are waiting for the Chancellor’s statement before making significant investment choices.
The study indicates that 43 per cent of businesses expect to increase investment once Budget measures are announced. This figure rises to 58 per cent among large businesses and 53 per cent among medium-sized firms.
Of those holding back on investments, key areas being postponed include facility upgrades or expansions (37 per cent), research or development of new products (36 per cent), purchases of equipment or vehicles (35 per cent), and staff training plans (34 per cent).
Business tax cuts were identified as the top priority for companies ahead of the Budget, with 45 per cent saying it is the measure they would most like addressed. The demand for tax cuts is especially high among small and micro businesses, both at 51 per cent. Other priorities highlighted include incentives for investment, public infrastructure spending, and support for workforce training and upskilling.
Three quarters of respondents believe business tax cuts would boost confidence in their success. Sixty-five per cent said investment incentives would have a similar effect, while reducing regulatory burdens and increasing funding for regional business development were also cited as factors that could improve confidence.
Matt Hammerstein, Chief Executive of Barclays UK Corporate Bank, stated: “Our research shows businesses are eager to invest in facility upgrades, new and improved products and staff training, but they need clarity from the Government to move forward. The Autumn Budget presents a critical opportunity to unlock that investment and drive long-term growth.
“At Barclays we support businesses of all sizes to realise their growth ambitions and help build confidence in the UK as a place they can flourish through investment.”
Barclays has made its £22 billion Business Prosperity Fund available to both new and existing customers across its Business Banking and UK Corporate Banking divisions. The fund is intended to provide lending and refinancing options for projects supporting business growth throughout 2025. More information about how Barclays can support businesses is available at https://home.barclays/businessprosperity.
The Barclays Business Prosperity Index was launched in November 2024 as part of an ongoing campaign by Barclays. It provides a trackable measure of business performance and future growth potential using economic modelling developed with the Centre for Economics and Business Research (Cebr). The latest survey data was collected between August 12th–22nd, 2025 by Opinium Research on behalf of Barclays.
For more details on the index or about Barclays’ services visit https://home.barclays/businessprosperity or https://home.barclays.