Access to finance continues to hamper manufacturers

Working with companies across the region every day, Mr Griffiths explained that businesses are still facing major difficulties in accessing finance. He said: "While it is very good to hear the banking industry is slowly finding its feet, we are still receiving regular feedback from companies that are being hampered in their efforts to grow by a direct lack of lending. "Given that just about every indicator out there shows us emerging from the downturn this just seems plain nonsense, but this is what we are hearing loud and clear." "I have visited numerous manufacturers in our region and those making strides forward are those that know exactly where they want to go and have put time into the three P's – Product's, Processes and People. "Generally, these firms have embraced leading-edge technology for their production equipment and upskilled their employees to maximise the benefit of this technology. More often than not, there is either a unique or innovative product they can offer their customers and for which a premium price can be demanded. "The identification of the unique selling point by companies is vital to showing the viability of both product and business and the preparation of a robust plan that then justifies investment. "It's here really where I think banks and businesses could be more joined up. If the money is there to be loaned, the business case is right and there is confidence in management, then it should be a win-win for both parties."