325,000 jobs for manufacturing

Although manufacturing companies are forecasting near double digit growth, almost a third are failing to formulate a formal business plan, according to a survey from Barclays. Almost 200 manufacturers took part in the online survey which forecast 8.3% as a realistic annual growth rate. The survey is part of the 'Take one Small Step' campaign and includes a nationwide business idea competition in which Barclays will award £50,000 to put towards implementing the business ideas of the 10 best entrants. Julie Meyer , founder of Online Dragon and chief executive of Ariadne Capital supports the scheme and said: "The UK is now the world's breeding ground for the brightest and most inventive business ideas and the last 12 months has, in many cases, steeled people's determination to make a success of a new venture." Managing director of Barclays Business, Steve Cooper (pictured) commented: "Local businesses, including smaller manufacturing firms, are the backbone of Britain's economy and the heartbeat of our communities. It's important for us to recognise and support their ongoing efforts in such challenging market conditions."