Optimists would claim manufacturing recovery, says expert
- Published on Tuesday, 14 August 2012 10:56
- Written by Scott Buckler
Optimists would claim that there is evidence of the beginning of recovery when it comes to manufacturing and other 'traditional areas', according to one expert
Having been asked whether it was probable that business confidence would go down further, the Forum of Private Business' Phil McCabe also said that things would be heavily dependent on progress when it comes to smaller firms being able to access finance.
"A lot will depend on what happens to free up finance for small firms and make sure invoices are paid and also restoration of affordable commercial lending, provision of alternatives to traditional banks, to get a toehold in finance markets," he said.
Future improved confidence would be dependant on the policies that the government puts into place in order to do something about these things, he suggested.
He also said that one important thing was aiding firms within 'traditional' areas to understand the fact "that sales and marketing is a crucial and occasionally undervalued side of business activity," he added.
Talking about smaller firms and financing earlier this year, Mr McCabe said: "Not being able to borrow commercial finance at affordable levels just basically [reduces] your ability to maintain any kind of financial cash flow, particularly when that's taken into account with late payment of invoices."