Its latest ‘Manufacturing Barometer’ questioned 89 senior directors in the West Midlands and found they expected to invest more in machinery, new technologies and premises over the next six months. Read more here.
- 57% expected to invest more in new machinery
- 39% expected to invest more in new technologies
- 48% reported an increase in sales in the first half of the year
- 67% expect to grow over the next six months.
53% of respondents said they would increase staff.
MAS’ regular quarterly special focussed on whether business growth could be linked to innovation
- 86% of SMEs reported new products introduced over the last 2 yrs led to new sales
- 37% reporting an increase in both sales and profits
- 38% said that new sales accounted for 25% or more of their total turnover.
The Barometer also revealed that the majority of respondents are meeting the diverse requirements of the automotive, defence and oil and gas sectors. Marine, aerospace and electronics are also generating strong demand.
As high unemployment prevails in the city & region it is imperative to focus on inspiring and skilling the young – starting in the upper primary school, before discouragement sets in.