(Alliance News) - Manufacturers are missing out on billions of investment potential as economic and political uncertainty as well as increased costs remain barriers to accessing finance, according to a report.
Make UK said its research suggested that one in four manufacturing firms would increase their investment if access to finance was improved.
Access to finance will be critical for investment plans in the next two years in critical categories such as capital equipment, automation, energy efficiency and cybersecurity, said the report.
More than half of 100 companies surveyed said they were unaware of the range of public sources of finance and government schemes tailored towards manufacturers.
Fhaheen Khan of Make UK, said: "Access to finance is like fuel for manufacturers. Without it many manufacturers would be unable to make the continuous investments in capacity and innovation which are so essential in such a dynamic sector with an ever-changing external environment.
"However, there is currently significant investment which is lying untapped due to a lack of awareness among companies of the private and public options available to them. If we can unlock the options that finance provides, then it will produce significant potential for manufacturers."
Make UK estimated that manufacturers were missing out on up to GBP10 billion of investment potential.
source: PA
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