Posts Tagged ‘financing business growth’

Manufacturing Businesses Looking to Invest in Equipment to Meet Demand

Posted on: February 25th, 2014 by blsuser1 No Comments Tags: , , , ,
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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.

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