Confidence rising among smaller manufacturing firms
Mon, 02 Nov 2009
The majority of small and medium-sized manufacturers expect their order books to stabilise during the next quarter, it has been reported.
According to the latest Trends Survey from the Confederation of British Industry (CBI), confidence is improving despite demand for goods depressing during the last three months,
Firms are at their most optimistic about the business situation in two and a half years, the study has found, with the balance of firms feeling positive up to nine per cent, its highest level since April 2007.
Russel Griggs, chairman of the CBI's Small and Medium-Sized Enterprise Council, said it was good to see that such firms feel more confident about business prospects than they have for some time.
"However, current conditions remain challenging for many small and medium-sized UK manufacturers, with orders and output still falling, and uncertainty about demand a major concern," he added.
Mr Griggs noted that accessing finance remains a particular problem for this size of business, with a record proportion saying it is affecting their ability to invest.
In other manufacturing news, the government has increased the budget of its manufacturing technology centre – which aims to promote innovation and career opportunities in the sector - to £40 million.
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