Businesses are looking to spend more to stay ahead of the competition with 82% of firms looking to invest, a new report by asset finance provider Lombard has revealed.
Its latest Attitudes to Business Investment survey found that almost three quarters of businesses are looking to invest to improve efficiency.
And 71% said investment is of the most importance when it comes to increasing productivity. Among manufacturers, that number rises to 78%.
Ian Isaac, head of Lombard, said: “It’s very encouraging that UK businesses and manufacturers in particular are taking an enterprising approach to the importance of investing to secure their place in the competitive global arena.
“The findings of the survey indicate that UK businesses are very aware of what they need to do in order to secure ongoing and sustainable growth. Within their business plans, investment aimed at securing innovation, improving productivity and establishing strong export markets will continue to play a fundamental role in the future health of the UK economy.”