Third of UK manufacturers struggling with debt and rising costs, research suggests

Contact us - Call St Austell +44 (0) 1726 63344, Truro +44 (0) 1872 305960 or Liskeard +44 (0) 1579 343401 Email info@willsbingley.com

29 Nov 2021

Research carried out by manufacturers' organisation Make UK has suggested that more than a third of manufacturers in the UK are struggling with rising costs, debt and business red tape.

40% of manufacturers surveyed said that they had consulted an insolvency specialist or are looking to do so in the next 12 months. Cost inflation has put pressure on businesses as they combat skills shortages and rising costs, Make UK found.

Meanwhile, 50% of firms reported increased levels of debt when compared to the start of last year.

Commenting on the issue, James Brougham, Senior Economist at Make UK, said: 'Industry is facing the perfect storm with a raft of rapidly escalating costs combined with significant levels of debt which many companies took on as a precautionary measure just to stay afloat.

'Given the inflationary spiral shows every sign of continuing to climb, many companies fear a tipping point that could make their business models unviable.'

Get in Touch...

Please feel free to get in touch via phone email or our quick contact form.

We offer initial free consultations simply get in touch with us to find out more.

Contact us »

xero-gold.jpg