Construction and manufacturing businesses report highest level of confidence, survey reveals

Small or medium enterprises in the construction and manufacturing sectors are the most confident when it came to their ability to raise finance for investment purposes, figures obtained from a survey conducted on behalf of alternative finance company Platform Black was able to reveal.

The research revealed that close to 71% of small business are now confident of their ability to raise finance, but when it came to construction and manufacturing businesses, the figure was even higher, reaching 73%.

The survey was compiled by IFF Research and involved 500 managing directors, financial directors and owners of businesses with up to 250 employees, and found that confidence is returning to the UK economy.

More than seventy per cent of companies questioned said they are ‘very confident’ or ‘fairly confident’ in their ability to raise the finance they need over the next 12 months. However, business confidence was visibly affected by the company size in terms of employees and turnover. Business confidence was higher in medium businesses (50 to 249 employees) at 80%; six in ten of these medium businesses (62%) had a turnover of greater than £6.5 million.

This is compared to micro businesses (1 to 9 employees) which had lower business confidence at 69%; three quarters of these micro businesses (75%) had a turnover of less than £632,000.

Companies who do manage to obtain the required financing for expanding their activity and taking more people on board should also seriously consider the implementation of a very solid and reliable human resources management system, that will enable them to add more employees in a very sustainable manner.

Tensor plc supplies an extensive range of solid and reliable workforce management and optimization solutions that can help companies of all sizes, from SMEs to large-size enterprises, better manage their employees.

Our WinHR suite enables managers to save and easily access a wide array of data pertaining to each of their employees, thus allowing them to better use the available resources and skill ranges at any given moment.

Moreover, Tensor’s range of products offer both a high level of reliability and good value for money, which means that companies who do decide to implement our solutions will immediately see the returns, without taking a hit as far as their balances are concerned.

If you’d like to find out more about the range of workforce management and Time and Attendance solutions supplied by Tensor, just contact us or Book a Demo, our representatives will be more than happy to answer any questions or queries you might have.