Financing and cash flow still affecting North West manufacturers

May 11, 2011 - PRLog -- New figures released following the end of 2010 financial year in April show that since 2002, MAS North West, which is delivered by The Manufacturing Institute, has helped manufacturers to generate financial returns totalling £1.1 billion and safeguard 10,306 jobs in the region.

As part of the activities undertaken to help the region’s manufacturers, MAS has always undertaken a proactive policy of engagement, listening to manufacturers in order to develop initiatives and practical assistance that works for them.

From speaking with manufactures during the past six months to monitor the major challenges they have faced during these harsh economic times, financing problems and cash flow remains the top concern amongst almost 13.4% of the 691 respondents to the ongoing survey.

Second largest concern amongst the region’s manufacturers, at 8.8%, is expansion and growth, with energy and material costs (7.6%) narrowly ahead of competition, lack of sales and developing new products (6.5%).

Adam Buckley, Head of Programmes at MAS-NW said:

“It is very interesting to see that cash flow and obtaining finance continue to cause the same level of anxiety they were during 2010. The banks are supposed to be easing the supply of credit as they have been requested to do by the government, and one would expect this to have filtered down to small and medium businesses by now.

“Recognising that manufacturing is the foremost driver for improving GVA, MAS-NW will continue its proactive stance by helping great manufacturers become even better in what is the largest English manufacturing region.”

For further details of the funded help available for manufacturers to supercharge their businesses, please call 0800 458 9585, or visit www.mas-nw.co.uk.

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Small and medium size North West manufacturers have access to a fully or part-funded manufacturing review to review to assess existing working processes and identify the best areas for improvement.