Hiring boom as manufacturing confidence grows
A record number of UK SMEs are looking to take on staff as recruitment confidence hits a three-year high, according to the Manufacturing Advisory Service (MAS).
More than half of firms (54%) questioned for the latest MAS Barometer are looking to create new jobs, marking a 14% increase on the same period last year and the highest level of confidence in staff recruitment seen in the history of the report.
Firms are looking to take advantage of new opportunities, including expansion and reshoring of supply chains in automotive, aerospace and nuclear sectors, the MAS Barometer of 800 small manufacturers shows.
Almost two thirds (61%) of firms reported an increase in the previous six months and 73% expect to win more work between now and October – a 14% and 9% rise respectively from March 2013.
Responses also reveal a record appetite for investment in new plant and machinery (59%) and in developing new technologies (52%).
Steven Barr, head of MAS, commented: "We have seen consistent signs during the last 12 months that firms are ramping up capacity, in order to meet increasing orders and take advantage of work coming back to the UK.
"This is the clearest signal yet that our manufacturers believe the upturn is sustainable. Three record figures for recruitment and investment in machinery and technology suggest many small manufacturers are planning for the long-term and, encouragingly, they are taking action now to manage future expansion."
