After a whirlwind of changes such as HSE requirements (Covid Secure), managing resource (staff in / staff off), finances – who to furlough / who not to furlough,…. it’s great to see that a large proportion of SME manufacturers are expecting to achieve or surpass their pre COVID position in the next three months.
It’s also encouraging to read that 58% of companies surveyed are planning to raise investment over the next 6 months, whilst 54% intend to recruit more staff. There are supply constraints in terms of access and availability of raw materials, longer lead times and this can naturally cause a strain on working capital. As I commented in my December 2020 (Manufacturing – Funding Considerations for 2021), there are alternative working capital funders who can be more flexible regarding the leverage of balance sheet assets.
As non-essential retail, leisure and hospitality open up and the economy gains momentum, a bit like a pedal bike getting up to an optimum speed our focus should be on keeping that momentum going and less of the traffic lights stop – start (And yes i do stop at the lights)!
Get in touch if you would like advice on growth related finance or potential acquisitions.
Onwards and Upwards…
48% of small and medium-sized manufacturers expected to meet or surpass their pre-COVID position in the next three months
