Manufacturing Business Loans
Financing For Manufacturing Businesses
Despite the recent years of economic downturn, manufacturing in the UK is strong. The UK is currently the 11th largest manufacturing nation in the world. The manufacturing industry makes up 11 per cent off GVA (gross value added) and employs 2.6 million people.
Despite years of ups, downs and transitions, manufacturing in the UK boasts an average annual productivity increase of 3.6 per cent, two-and-a-half times greater than the UK economy as a whole. And among its leading manufacturing sub-sectors:
- The UK is second globally in aerospace manufacturing.
- The UK-based auto industry exported a record-breaking 84 per cent of its production in 2011.
- The chemical and pharmaceutical industries add £20 million per day to UK balance of trade.
The sector is also quite diverse, comprising a wide variety of different industries, technologies and activities: Established industries such as food and drink, aerospace, pharmaceuticals, electronics and automotive, but also new industries developing around emerging technologies—low carbon, industrial biotechnology, nanotechnology, digital and advanced materials like composites.
With the globalisation of the manufacturing value chain, manufacturers can now execute different activities in different global geographies. Competition in domestic and international markets for manufactured goods has intensified. UK manufacturers face competition from countries in the West, as well as emerging economies, such as Brazil, Russia, India and China.
Looking ahead, trends expected to affect domestic and global demand for products and services will also impact the long-range growth prospects for UK manufacturing. These include
- Rising incomes
- Growing demand for higher environmental standards and greener products
- Changes in demographic and lifestyles
- Continuing technological progress
- Rapid growth in emerging markets
These could very well help revive those manufacturing industries which previously may have been stagnating or in decline.
Business Loans for Manufacturers
Given the manufacturing landscape, both domestic and global, how will UK’s SMEs in the sector take advantage of opportunities for growth, as well as weather bumps in the road that may lie ahead? A critical factor will be access to business financing. In fact, the health of the UK economy depends on the continued growth of its SMEs.
That’s why at Boost Capital, we provide business funding solutions to SMEs in UK’s manufacturing sector, including business loans from £3,000 up to £500,000 for qualified businesses. Understanding the many demands on business owners, we also have an application and approval process that are streamlined, quick and easy.
- A simplified online application
- Minimal documentation and paperwork requirements
- Approval decisions in 24-48 hours
- Quick funding, once approved, usually in a matter of days
- Favourable terms and repayment process
- Poor credit is okay
Most importantly, you can use the capital for any business expense, including:
- Purchase of manufacturing equipment and materials
- Expansion, upgrade or remodeling of your manufacturing plant
- Expansion of staff, along with education and training
- Management of cash flow
Apply for Manufacturing Business Funding Today
Boost Capital funding solutions are designed around the needs and preferences of UK SMEs: A simple application, quick approval and access to funds, and the ability to use the funds based on your business needs. Click here to complete an application online, or call us at 0800 138 9080 to learn how others in the manufacturing sector are making a path to the future.
Does your manufacturing business need a boost in capital? Click here to apply for a business loan!