Skills shortages stifling growth plans says Close Brothers research

The findings, from the Close Brothers Business Barometer, also reveal that a quarter of businesses surveyed in the manufacturing industry are finding it more difficult than usual to achieve growth, while a further one third are finding it near impossible. Steve Gee (pictured), managing director of the asset finance firm's manufacturing division said that manufacturers' plans and the tenacity and determination they were demonstrating as Britain emerged from recession were to be applauded, it was not good news that a lack of skill or resource were hampering their ambitions. He continued: "It may well be that manufacturing firms don't have the money either to hire new talent, or to invest in new resource and equipment that will allow them to move forward. In fact, a third of respondents cited inability to access funds as the biggest stumbling block to growth. "Whether to fund expansion, resources or staff development, the need for businesses to find a lending solution that will suit their plans for growth is key as without this, their plans will come to naught."