MHA MacIntyre Hudson have today launched their much anticipated Manufacturing Survey Report for 2017.

A Wide Range of Businesses

The report, now in its 6th year, is sponsored by Lloyds Bank Plc.

A wide range of businesses completed the survey, with turnover ranging from £1 million to over £101 million, representing sectors from automotive, construction, aerospace, precision engineering and tooling, as well as the field of electrical and electronics.

Optimistic for the Future

The Midlands results show that businesses are optimistic about their future, with nearly 79% of respondents forecasting growth of up to 10%, driven by increased demand, a rise of 6% on the previous year.

During the last 12 months 69% of businesses reported growth compared to the 73% who forecast growth in last year’s survey.

With regards to Brexit, the good news is that the majority of businesses have a strategy for Brexit in place. 43% believe that Brexit will have a limited impact, with 15% claiming that Brexit will have an extensive impact on their businesses.

EU Uncertainty

In terms of retaining and recruiting staff, 22% of businesses have lost staff as a result of the referendum result.

This is being put down to uncertainty with regards to EU workers’ rights

In summary, the outlook for Midlands businesses remains strongly positive, in terms of projected growth.

The challenge remains much as last year, to deliver projected growth against the difficulty of recruiting and keeping the right staff when it is now complicated by uncertainty over EU workers’ rights.

The report itself can be downloaded here