Small manufacturing growth outpaces larger firms
| Date Added: Wed August 15 2007 |
The CBI's quarterly industrial survey reveals the highest rate of growth in UK manufacturing orders since 1997.
The manufacturing sector as a whole may be seeing a falling growth rate in terms of orders, however, this is far from the case with the SME sector - where rises are reported to be holding up at a steady net 12%. This pick-up in the growth of output and total orders has resulted in plans to hire new employees at the strongest rate in ten years. According to the survey findings, this will be accompanied by an increased investment in plant and machinery during 2007.
It is telling that the highest proportion of firms since 1995 are now anticipating plant capacity to be the limiting factor to output.
Steve Sharratt, chairman of the CBI's SME Council, explains: "SME firms are not complacent, and predict a tightening of profit margins in the coming quarter."
"Nevertheless, SMEs see this increase in business as providing the opportunity to invest further in product and process innovation in order to enhance both competitiveness and productivity." |
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