ACCESS to credit is improving, says manufacturers’ organisation EEF.
The latest survey of North West members shows the first appreciable improvement in the overall cost of credit for manufacturing companies in 12 months.
Over the past quarter the proportion of companies reporting an increase in the fees and interest rates on both new and existing credit facilities has continued to show a downwards trend.
However, the percentage of companies actually seeing costs fall remains unmoved.
EEF says any signs of improvement are encouraging, but stressed that there was no room for complacency in enabling companies to access the finance they needed to invest and grow.
It said in recent weeks banks, Government and industry have moved towards a broader agreement on what needs to be done to address these challenges, but called for this to now be taken forward with action.
