Upbeat Barometer points to growth for SME manufacturers

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SME manufacturers are at their most confident for two years with over half expecting to recruit to meet an anticipated rise in sales.

These are some of the conclusions from the latest Manufacturing Barometer, carried out by SWMAS (the South West Manufacturing Advisory Service) and the Manufacturing Growth Programme (MGP).

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Nearly two thirds of firms are expecting to increase sales between now and October, with 58 per cent indicating that they are planning to increase investment over the next six months. Out of nearly 300 firms questioned, 54 per cent highlighted the need to recruit staff over the coming months.

This quarter’s Barometer took looked at how manufacturing SMEs are recovering from the pandemic and just under half (48 per cent) expect to return to, or exceed, their pre-COVID-19 position within three months. In total, 80 per cent of businesses took advantage of the furlough, which is now being used 37 per cent of respondents.

The survey found also that new working practices are being implemented, with 42 per cent of respondents planning to offer employees some level of remote working (up 28 per cent on pre-pandemic levels).

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