Aldermore Bank confirms CBI's SME findings
As reported previously by Manufacturing Global, small and medium UK manufacturers are reporting strong growth in orders, according to the CBI Industrial Trends survey.
Carl D’Ammassa, Group Managing Director of Business Finance at Aldermore Bank – a lender which specialises in helping SMEs – offered the following expert comment:
“After a relatively tough year for manufacturing, it’s heartening to see that SMEs in this industry are currently feeling optimistic. With manufacturing accounting for around 11 percent of UK economic output it is vital that businesses, and especially those at the smaller end of the scale, get the assistance they need, particularly as we are heading into a year that is likely to bring further uncertainty.
“Our experience echoes that of the CBI – we know that SMEs in manufacturing are largely optimistic about their growth prospects and many are planning to expand in a number of ways including entering new markets, developing new products and services and enhancing their technology. Our own research reveals that almost one in five UK SMEs are expecting to invest additional capital in order to grow their business in the coming year and the majority of these are confident they will be able to access the finance they need to develop and carry on trading successfully into the future.”
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