Job prospects are up among manufacturing UK SMEs, according to the latest Manufacturing Advisory Service (MAS) Barometer. The survey found that 93% of small manufacturing SMEs are looking to boost jobs and uphold staff levels which will be good news for automotive jobs says the Society of Motor Manufacturers and Traders.
Appetite for investment has seen an upturn, with 39% planning to boost spending on new technologies and 48% intending to invest in new machinery and premises – both 4% up on the same period last year.
Growth prospects among manufacturing SMEs in England is at a 12-month high, according to the MAS Barometer. The report reveals that nearly two thirds (64%) of the 700 companies surveyed are expecting to increase sales over the next six months.
There was also positive news on recent performance with 47% of respondents reporting a rise in sales turnover (+4% on Q4 2012), while 93% of manufacturers are looking to take staff on or maintain current workforce levels.
Business and Energy Minister Michael Fallon said, “We have a strong manufacturing base here in the UK. As we see through the latest MAS Barometer, business confidence is on the rise, particularly among SMEs, indicating that manufacturers are becoming more optimistic about their future growth plans.
“The report also indicates that challenges remain for manufacturers. MAS works with businesses to maximise their efficiency, reduce waste and grasp new commercial opportunities – all key drivers for growth. I would encourage SMEs seeking to improve their operations and increase their bottom line to contact their local MAS.”
MAS, which is funded by the Department for Business, Innovation and Skills (BIS), works for manufacturers and through experienced advisors can help shape strategy, create new products, reduce waste and review supply chains.
