ATA Search
Business Confidence Survey 2024
To keep our clients informed on industry trends, ATA Search tapped into our extensive network with an in-depth Employers Survey. The survey explored the key drivers of business success in 2024 and provided valuable insights into business confidence for 2025.
2024 proved to be a challenging year for the UK economy, growing by just 0.4% over quarters 1–3 (according to ONS data). Despite this growth being below initial projections, it was positive to see that 39% of respondents in our survey reported either strong or very strong growth.
Despite minimal growth being projected for Q4, the pending National Insurance, Minimum and Real Living Wage increases, and the ongoing economic uncertainty, the outlook of those surveyed across UK manufacturing remains positive. With an average confidence rating of 2.88 out of 4 for their outlook in 2025, many participants are hopeful for a stronger year ahead.
39% of those surveyed said they experienced growth or strong growth in 2024.
Recruitment (23%) and retention (13%) of staff were key challenges in 2024.
51% of those surveyed said they are predicting strong growth in 2025.
What industry best describes the participants field?
General Engineering | 20% |
Automotive | 7% |
Aerospace | 10% |
Special Purpose Machinery | 15% |
Food | 10% |
Construction Materials Manufacturing | 7% |
Warehouse Automation | 5% |
FMCG | 10% |
Process Engineering | 7% |
Other | 10% |
What levels of growth did businesses experience in 2024?
Strong/Very Strong | 39% |
No growth | 54% |
Moderately Negative | 5% |
Very Negative | 2% |
What have been the biggest business challenges in 2024?
Cost Control (energy, material, salaries) | 23% |
Recruitment | 23% |
Employee Retention | 18% |
Customer Demand | 23% |
Competition | 3% |
Availability of management skills | 8% |
Other | 3% |
What are the key drivers impacting confidence levels?
Demand for our products/services | 30% |
Economic situation | 20% |
Investment | 11% |
Sector Investment | 8% |
Profitability / Rising Costs | 10% |
Recruitment | 6% |
Retention of staff | 14% |
What levels of growth are business owners expecting in 2025?
Very Strong | 7% |
Strong | 51% |
No growth | 37% |
Moderately Negative | 2.5% |
Very Negative | 2.5% |
What does this mean for businesses?
Managing costs
Three primary challenges that hindered businesses growth in 2024 were cost control (including energy, materials, and salaries), recruitment, and customer demand. All these factors are closely linked to financial sustainability. From managing production costs and securing the right talent to meeting market demand, each aspect plays a crucial role in overall business success.
Meeting demand
2025 is shaping up to be a strong year for business, with confidence at a high. Over half (51%) of business owners anticipate a strong year, while an additional 7% expect it to be very strong. This optimism suggests that we are turning a corner, driven primarily by increasing demand for products and services. With 2025 set to be a busy year, success will depend on strategic cost control and securing the right talent to drive growth. Ensuring your team is equipped to capitalise on opportunities will be key to making the most of this positive momentum.
Get in touch
If you’re interested in the findings of this survey and would like to discuss how these trends could impact your business, we’d love to help. Our expertise in Bridging The Skills Gap ensures you have the right talent in place for a successful year ahead.
We're looking forward to launching our second employer survey, focusing on recruitment and retention, to provide deeper insights that help you build and maintain a strong workforce.
In the coming weeks, we’ll also be releasing our annual Engineering Insights Report, featuring data from all the placements we’ve made throughout 2024. This comprehensive report, combined with feedback from candidates on their employment plans, reinforces our knowledge and expertise and helps you tackle the ongoing challenge of staff retention with confidence.
To find out more, contact Chris Addison, Director of ATA Search, at 07787 289 367 orchristian.addison@ata-search.co.uk, or simply complete the form below.
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