Market Research Shows Growth Still Possible For Manufacturing SMEs in England

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21st August 2012 17:24 - Industrial

The latest National Barometer carried out by the Manufacturing Advisory Service suggests that growth is still possible for manufacturing SMEs in England.

More than half (53%) of respondents to the survey have seen orders grow in the last six months, and the same number anticipate an upturn between now and January 2013. A third of the companies questioned are looking to create new jobs, whilst over half (55%) are expecting to maintain their workforce at its current size. Almost three quarters (71%) are looking to boost their turnover through exports in the next eighteen months.

However, there has been a reduction in the number of respondents seeing an increase in enquiries – from 49% in the last barometer to 40% in this. In addition, the number of considering purchasing new machinery or investing in new premises in the next six months has fallen from 44% to 38%.

Despite this, Business Minister, Mark Prisk, commented:"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.”

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