DESPITE recent economic surveys reporting a slight dip in manufacturing performance, it appears that the smaller firms in Hampshire are still confident of growth, according to the latest MAS Barometer, the largest survey of its kind among manufacturers in England.

The findings show that small manufacturers will make the most of a strengthening UK economy by focusing on home markets for their future growth.

More than two-thirds (67%) of companies questioned feel that increasing sales in the UK offers them the best chance to expand.

This was followed by new product development, improving production processes, and more than a third of firms (36%) are focused on boosting their export performance.

Similar to the last quarter, more than half of firms (55%) are looking to recruit and create new jobs, which is a record figure and a 12% rise on 2013.

There also appears to be significant confidence in longerterm growth as respondents predict a 64% rise in collective turnover and staffing levels to increase by 32% over the next four years.

Hampshire-based GW Martin Machining Specialists supply machined components and assemblies to the aerospace, defence, automotive and electrical industries in the UK and overseas.

Stuart Yalden, managing director, said: “We are positive about the future and pleased to report a healthy order book to take us well into the next year.

“This gives us the confidence to commit to our investment strategy to develop the business with new equipment and systems, and importantly investment in the skills of our team.”

The Barometer results report 61% of companies increasing sales in the last six months and 76% expecting to grow between now and the end of the year – 8% and 9% improvements respectively on this time last year.

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