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Manufacturing SMEs are reporting rising sales and have ambitious growth targets, a new survey has revealed.
The Manufacturing Advisory Service’s (MAS) National Barometer surveyed 700 manufacturers, with more than 50% reporting increased orders over the last six months.
With regards to future growth, 53% predict more growth to occur in the second half of 2012.
Consequently, a third of companies have plans to increase their workforce, whilst 55% expect there will be no change in staffing levels.
Business minister Mark Prisk said of the figures: "This latest MAS Barometer shows that many small manufacturing firms across the UK are growing and expect to continue to grow despite the challenging wider economic environment."
The latest unemployment figures were released today by the ONS, showing a drop in the number of those out of work, falling 46,000 to 2.56 million in the three months up to June 2012.
Business Finance for Manufacturers
Here at Skipton Business Finance, we know that the manufacturing Industry is highly important to the country’s economy, employing approximately three million people.
But it’s a sector that hasn’t had it easy in recent years, with rising energy and material costs hitting profit margins hard and impacting on cashflow.
Skipton Business Finance is able to offer business finance solutions which allow manufacturers to release cash quickly that they have tied up in unpaid invoices.
Why not browse our website to find out more about how invoice finance could be the funding solution your manufacturing business needs to secure a bright future.