MHA Manufacturing and Engineering Report 2019/20 – Video Part 2
Investment is key for growth in the sector.
As in previous years, answers to the various sections of the survey brought about some recurring themes and also a couple of surprises e.g. Business confidence.
When asked specifically about revenue growth– results are optimistic and at a similar level to last year – 70% of respondents anticipating growth over the next 12 months (71% last year). 64% of respondents are planning to invest in R&D – It is encouraging that 89% of respondents invested in R&D in the last year but frustrating that only 48% of those who invested successfully applied for R&D tax credits.