South: Lombard survey confirms British firms spending to stay ahead
The latest Attitudes to Business Investment survey from Lombard, the UK’s largest asset finance provider, shows that more than four in five British businesses are looking to invest to improve efficiency and productivity.
The survey was carried out on behalf of Lombard by Research Now and involved rigorous interviews with 750 UK businesses with a turnover of £2 million - £25m, including 100 manufacturing businesses.
The research reveals that 82% of respondents are looking to invest to improve efficiency, and that 71% say investment plays a key part in improving levels of productivity. 62% said the impact of new technology would increase efficiency, nearly half (45%) said it would improve overall competitiveness, while a quarter (25%) of manufacturers believe that it would drive exports. 57% of all businesses and four in five manufacturers (80%) are planning to invest to support export in 2016.
Ian Isaac, head of Lombard, said: “It’s very encouraging that UK businesses and manufacturers in particular are taking an enterprising approach to the importance of investing to secure their place in the competitive global arena.”
The Attitudes to Business Investment survey is very much in tune with what EEF has found from its members.
