Posted on 25.02.2014, by Rob Warlow
With the economy picking up confidence is beginning to return and small to medium sized manufacturers in England are set to embark on a major investment drive in order to meet expected increase in demand.
A survey from the Manufacturing Advisory Service (MAS) has revealed that 86% of respondents were planning to invest in capital equipment over the next twelve months, with companies looking to spend £121,000 on average.
Two thirds of the firms questioned are looking to purchase new plant and machinery, and just over half are focused on upgrading IT/communications infrastructure and nearly a third on improving premises.
So what’s prompting this investment drive?
The key reasons cited by those businesses surveyed were boosting efficiency and quality (31%), followed by developing new products/processes (30%) and extending existing capacity (22%).
Interestingly fewer than one in five companies (19%) said they planned to approach banks to fund capital equipment purchases in the next year, with manufacturers instead choosing to secure money via grants (27%) and the Regional Growth Fund (21%).
A even more positive sign that the economy is kicking back into life is that 62% of companies reported an increase in sales over the last six months, whilst over three quarters of businesses (76%) expect to boost sales between now and June 2014.
If you are looking at growth plans this year then we’re happy to have a chat about your financing options.
I wanted to thank you for such an insightful, energetic, and entertaining talk at the Kevin Green Wealth event on securing funding and creating a successful plan. It was brilliantly executed and a pleasure to listen to and the ideas I’ve learned are definitely going to help me in going forward.
Rob delivered a series of 3 workshops aimed at understanding how finance houses look at finance propositions with the aim for us as a team to deliver more of a bespoke offering to our customer base. The training was delivered to a mixture of staff who work with new businesses start-ups and existing established businesses across Mid & South West Wales. Rob delivered the training with an abundance of passion and has really helped my team look at financial propositions in a different light, many thanks again Rob and I look forward to work with you in the near future.
Rob kindly agreed to attend the recent Pontypridd RFC sponsors networking evening and delivered what can only be described as an excellent talk on 5 Tactics to Boost Your Business and Your Profits. He kept the audience engaged throughout and the feedback from everyone was excellent. Rob is very knowledgeable on business and finance and on top of that is a genuine nice guy. We hope to have him back at a future event and I have no hesitation in recommending Rob’s services.
Further to your recent presentation at LEAD Wales just wanted to say it was very refreshing to see somebody talk passionately and positively about finance, very insightful!
Hi Rob, it was so interesting and entertaining listening to you at the Kevin Green Wealth Coach Workshop in Reading this weekend! I didnt realise you can find Finance proposals such fun!. Brilliant tips! Thanks.