Record levels of small manufacturers planning to create new positions
4th June 2014 | News
Record numbers of UK small manufacturers are looking to take on new staff with recruitment confidence reaching a three-year high.
Within the Manufacturing Advisory Service’s Barometer more than half of firms (54 per cent) questioned said they were looking to create new jobs – a 14 per cent increase on the same period in 2013.
This is the highest level of recruitment confidence from SME manufacturers since the report began three years ago.
The figures are further reinforced by sales growth stats which show 61 per cent of firms reported an increase in the previous six months and almost three-quarters (73 per cent) expect to win more work between now and October.
Responses also demonstrate record levels of appetite for investment in new plant and machinery (59 per cent) and in developing new technologies (52 per cent).
Michael Fallon, business minister, said: “Britain’s manufacturers are helping drive the UK economic recovery.
“Through our industrial strategy and economic plan, the Government will continue to work closely with this vital sector to ensure that confidence stays high, creating more highly-skilled jobs and a stronger economy for everyone.”
Steven Barr, head of the Manufacturing Advisory Service, believes firms are taking the economic growth as a green light to investing in the future.
“We have seen consistent signs during the last twelve months that firms are ramping up capacity, in order to meet increasing orders and take advantage of work coming back to the UK,” said Barr.
“This is the clearest signal yet that our manufacturers believe the upturn is sustainable.
“Three record figures for recruitment and investment in machinery and technology suggest many small manufacturers are planning for the long-term and, encouragingly, they are taking action now to manage future expansion.”