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Credit conditions ''remain difficult for manufacturers''

20 September 2010
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Access to credit remains tight for manufacturers, new research has found.

Approximately 30 per cent of companies surveyed noticed an increase in the cost of credit over the past three months, EEF figures show.

The organisation noted that while this figure has remained relatively constant over the past three quarters, more manufacturers are now reporting increases in the cost of new lines of borrowing, despite small improvements in the availability of credit.

Tighter credit conditions could affect manufacturing management processes.

Chief economist at the organisation Lee Hopley said: "Despite the pick up in the economy, too few companies are seeing a significant improvement in lending conditions."

He added that there are now concerns that the supply of credit could affect the upturn in manufacturing.

Similar findings have been recorded by Manufacturing Advisory Services North West, which found that lack of sales is affecting cash flow for businesses in the region. Sales levels have become the biggest concern for manufacturers in the north west, the Liverpool Daily Post reports that the survey found.
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