EIA secures government funding for its members
URICA, the global early payment network for SMEs, and the Engineering Industries Association (EIA) have announced a partnership that will help to unburden the engineering sector from the threat of finance-related difficulties.
The objective of the partnership is to improve working capital flow for members, with URICA offering credit lines ranging from £50,000 to £2m. This credit will allow members to pay suppliers early, in turn boosting growth for the industry and opening up new trading opportunities.
You can find out more on the funding by heading here.. http://ow.ly/ZiFH9
EEF chief sounds “abyss of uncertainty” Brexit warning
According to the EEF chair, Martin Temple, the campaign for Britain to leave the EU has no tangible benefits to show voters and will only offer risk.
Speaking at the EEF’s annual dinner, Temple highlighted the economic importance of the EU: “Our manufacturers, big and small depend on access to it, its supply chains and production networks. In short, the great risk of leaving is that our country would be economically poorer. Being in the EU gives us certainty.”
According to a recent survey, 61% of EEF members want the UK to remain in the EU, but what do you think? To find out more, head here.. http://ow.ly/ZiFJI
Car manufacturing makes strong start to 2016
The Society of Motor Manufacturers and Traders (SMMT) has revealed that UK car manufacturing got off to a strong start in 2016, with output growing by 8% in January compared with the same period last year.
Mike Hawes, SMMT Chief Executive, said: “January’s figures mark an encouraging start to the year following an impressive 2015. We expect output to continue growing in the coming years as the industry benefits from continuing investment, but much will depend on global economic and political conditions and consumer confidence.”
January’s performance was the best for eight years, but how will the rest of the year fare? To read more on the latest figures, head here.. http://ow.ly/ZiFQf