The study from the Manufacturing Advisory Service (MAS) has shed light on the attitudes and goals of a range of small firms in the sector.
Manufacturing SMEs interested in bulking up their supplies of machinery might look to the benefits of asset finance to ensure they meet their aims.
This can help reduce the financing burden on firms in need of machinery at a time when cash is tight or tied up in other areas of the business.
An asset finance solution from Aldermore can provide a loan-to-value of 100 per cent of the asset cost, excluding VAT.
The great advantage of asset finance is that it essentially enables a manufacturing SME to invest in machinery it needs, while the equipment pays for itself by helping to boost the company’s productivity.
It is not just machinery and premises that manufacturing firms are planning to invest in over the course of the year, however.
The research from the MAS also showed 39 per cent of firms questioned expected to take on staff in 2013, although the availability of specific skills was a barrier to growth for 45 per cent of respondents.
Some 22 per cent of small businesses surveyed found it challenging to identify the right spaces to advertise to suitable candidates, while 40 per cent said wage expectations were hindering their growth plans.
Still, area director for MAS in the north and west Lorraine Holmes said: “The overwhelming feeling is one of positivity, with order books, sales expectations, future investment in premises/machinery and the desire to create employment all up on the previous report.”
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