13-08-2007
Manufacturers report business growth against the odds
Small and medium sized manufacturing businesses are seeing their domestic orders rise at the highest rate for a decade, despite the rising interest rates and a prevalent late payment culture.
According to the Confederation of British Industry, 7% more manufacturing firms reported that their orders were up rather than down between April and July 2007. This is the best performance for 10 years in the sector.
The CBI has also reported a difference in growth between small and medium sized manufacturing businesses. Smaller operators reported a pick-up in growth of orders and output while medium-sized operators saw growth slow down.
For all SME manufacturers, export orders were reported to have dropped. Prices are still cited by those in the industry as the most significant factor limiting exports, despite the strengthening pound, which could be due to the impact of fast growing manufacturing industries in China and other developing countries.
This data was based on a survey by CIB of 535 firms with fewer than 500 employees.
Simply Business can help business owners in the manufacturing sector to grow their business by finding them an invoice finance deal. Invoice finance companies solve cash flow problems by advancing money against the company’s outstanding invoices, and can also take on management of the sales ledger.
Get invoice finance quotes online or call a consultant for more in-depth advice