The CBI (Confederation of British Industry: www.cbi.org.uk) reported a record decline in manufacturing in their latest Industrial Trends Survey.
It covered the last three months and records the steepest falls in productivity since their records began in 1975. The manufacturers who responded to the survey produced 74% less than they did during the first quarter of the year, ending in March.
The biggest drops were in motor vehicles, transport equipment, mechanical engineering, and metal products.
None of this can be a surprise when the lockdown has prevented many British firms from operating – or from operating at full potential.
The same situation has existed in many other parts of the world, which will naturally reduce the demand for exported goods.
Most manufacturers, irrespective of size, will need to rebound quickly from these extraordinary circumstances.
The Asset and Cashflow Finance sectors will be ready to help.
They will fund new machinery for you, refinance existing machinery, or increase cashflow with a variety of invoice finance and revolving credit solutions.
Admittedly, the finance world has become volatile, as it reacts to the pandemic, but there are still plenty of funders out there who are ready to lend.
It makes sense to speak to professionals who know where to find the right solutions for your business.
Talk to us today if you are reviewing your plans, now that the lockdown restrictions are starting to ease. Click Here for our website link.