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Manufactures predicted to see growth in 2017 was this the case

A survey of 1,300 firms carried out by Company Check throughout November and December, found that over 70% of companies predict a high increase in turnover over the next 12 months.


When the survey questioned these companies about Brexit, over a third said that the vote to leave already had a negative impact on their business. Over a fifth of these companies said that the vote had a positive impact, whilst 42% of these manufacturers said that the vote had no effect on their business at all. Across all sectors, 55% said that Brexit made no change to their business.

Company Check’s Katie Deverill said: “Brexit may have already had a chilling effect on future business growth in some places, but business leaders still appear confident individually about their prospects for the year ahead.”

Over 27% of manufactures thought local government was doing an excellent jobs of supporting business growth, which is in line with the 30% nationally who felt the same.

 “There’s also high levels of disaffection with local authorities when it comes to them supporting and nurturing business growth,” said Deverill. “The powers that be should take note of these figures and recognise that something in the current system just isn’t working.”

The Business Census questioned a variety of people working within the UK and there were strong concerns about political events, that have doubled since 2016, with them being named the biggest challenge ahead by a third of respondents and increase of 90 percent on the year before.

These results were slightly lower than the average with the economy topping the list instead at 33 percent. This could reflect that the economy was once the biggest challenge for manufactures in 2016. 28% percent of firms have expressed their fear of economic decline that is expected next year.

The directing manager of Harvey Water Softeners said “The manufacturing industry has experienced some challenges, but the latest GDP figures are proof that we are growing through uncertainty. In a post-Brexit economy, manufacturing in the UK will be more important than ever. We need bold action and certainty to give companies a reason to stay here and invest.

“The results of the Business Census show that the economy is still a concern in our industry and we recognise there are some potentially challenging times ahead. But we’re confident in our future as a British family business and are positioned for growth, with plans to invest significantly in the local area and R&D.”


Added: 23 Jan 2018 11:56

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