Despite some recent negative vibes, three in five manufacturers are optimistic about improved  economic growth in 2024. This is  according to a report by Make UK and BDO.Interestingly, only 6% of the 300+ surveyed companies expect a decline. As a result, Make UK has revised its growth forecast for 2025 from 0.8% to 1.8%.

A senior economist at Make UK, stated:  “This quarter presents a tale of two halves, with output turning negative and recruitment taking a dip. Despite this investment remains positive and business confidence continues to climb.” Richard Austin, the head of manufacturing at BDO, added: “Manufacturers are hopeful that a period of greater political stability will provide a better economic outlook ahead, and that in turn is boosting business confidence.”

BFS Comment:

Whilst a survey of only 300 businesses is not exactly comprehensive, if accurate it would indicate that now is the time to start investing in the business. The target of that investment i.e. assets, marketing etc. will vary according to the state of the business and the market it’s in. We are regularly involved in helping SMEs to identify the objective(s) and size of their future investment. We also help in identifying the optimum source of any additional finance needed. So, if you want to grow your business but need some help in deciding upon the best way to do this, then call us on 01327 349779 or visit our web site www.bufinserv.co.uk and complete our enquiry form for a free, no strings consultation.

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