According to a recent report by Make UK and BDO, three in five manufacturers are optimistic about improved economic growth in 2024. This is despite some recent negative vibes. Interestingly, only 6% of the 300+ surveyed companies expect a decline. As a result, Make UK has revised its growth forecast for 2025 from 0.8% to 1.8%. A senior economist at Make UK, stated: “Despite output turning negative in the short-term and recruitment dipping, investment remains positive and business confidence continues to climb.” Richard Austin, the head of manufacturing at BDO, commented that “With a new Government in place with a substantial majority, Manufacturers are hoping for a period of greater political stability. This should provide a better economic outlook ahead. That in turn is boosting business confidence.”
iBOSS Comment:
If, based on this small sample, the report is accurate, it would indicate that now is the time to consider investing in one’s business. The target of that investment i.e. assets, marketing etc. will vary according to the state of the business and the market it’s in. At iBOSS we are regularly involved in helping SMEs to identify the objective(s) and size of their future investment. We also help in identifying the optimum source of any additional finance needed. So, if you want to grow your business but need some help in deciding upon the best way to do this, then call us on 01327 349779 or complete our enquiry form for a free, no strings consultation.
#planningforgrowth #investmentfinance #growmybusiness #assetfinance