Manufacturing SMEs across England are reporting encouraging signs of increased sales and job vacancies, according to a new survey.
The first ever Manufacturing Advisory Service (MAS) National Barometer saw 54% of respondents reporting a rise in turnover over the past six months, with a further 60% expecting growth between now and the end of the year.
41% of companies are looking to expand their workforce in the coming year and another 50% expect employee levels to stay constant as new business enquiries continue to be strong.
The survey represented the voices of more than 600 businesses who employ 26,000 staff.
Manufacturing continues to show growth across a number of different economic surveys, bucking the trend of the economy in general.
MAS Director for the North and West, Simon Griffiths, said of the survey figures, “This is the clearest indication yet that our manufacturers are enjoying increases in sales and, reassuringly, they expect this trend to continue.”
“The Barometer includes the views of manufacturers from all sectors and, against the backdrop of improvements in turnover, is showing a renewed commitment to create new jobs”, he concluded.
More than £17bn worth of funds were provided by the invoice finance industry to UK and Ireland firms in 2012.