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

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.'


Terms of Business | Disclaimer | Privacy Statement | Site map |

Registered Office: Bush & Co Limited, 2 Barnfield Crescent, Exeter, Devon EX1 1QT

Registered to carry on audit work in the UK; regulated for a range of investment business activities; and licensed to carry out the reserved legal activity of non-contentious probate in England and Wales by the Institute of Chartered Accountants in England and Wales
Company Number: 09017205

© 2022 Bush & Co Limited. All rights reserved.
We use cookies on this website, you can find more information about cookies here.