Survey of UK Manufacturers Reveals Key Insights for Future Growth Strategies
The manufacturing sector plays a crucial role in any modern economy, including the UK. As previously mentioned, the sector has experienced significant fluctuations over the past five years. These fluctuations have caused many industries to struggle, especially traditional industrial powerhouses such as the automotive and aerospace industries. Well-known brands like Jaguar Land Rover have had to approach the government for support to stay afloat.
However, despite the difficult economic climate, many manufacturing businesses have rebounded and are now benefiting from increased global demand for their goods. This has led some industry experts to believe that the UK is on the cusp of a manufacturing renaissance. But sustaining this growth will be critical, and the next government will play a vital role in achieving this goal.
The upcoming government will inherit a different landscape than the previous coalition, and it will be crucial for them to make important decisions regarding the level of support needed to promote manufacturing growth. One critical concern for the manufacturing sector is the UK’s potential departure from the EU, and manufacturers are understandably concerned about the implications of a referendum on this issue. It is also essential for the government to consider other key factors that impact the manufacturing sector, such as skills shortages, supply chain issues, education, access to finance, energy, and re-shoring.
To address these concerns and determine the needs and levels of confidence within the manufacturing sector, TheBusinessDesk.com and international law firm Squire Patton Boggs have teamed up to conduct a comprehensive survey. The survey will cover a wide range of topics, from skills shortages to EU membership and access to finance. The survey will run across all three regions, and the data collected will be used to set the agenda for a series of round tables in May and June. These round tables will bring together manufacturing business leaders and sector experts to discuss key issues and strategies to promote manufacturing growth in the UK.
The insights gathered from these round tables will be published on TheBusinessDesk.com website later in the summer, providing a valuable resource for manufacturers and policymakers alike. Simon Garbett, a partner at Squire Patton Boggs in Birmingham, emphasised the importance of understanding manufacturers’ business support needs to remain competitive in today’s markets. The survey will help the government better understand how to support the manufacturing sector and address critical issues such as tax policies, immigration, and infrastructure.
In conclusion, the manufacturing sector is critical to the UK’s economic growth and success. While the sector has experienced significant fluctuations over the past five years, there is optimism that the UK is on the cusp of a manufacturing renaissance. To achieve this goal, it is essential for the next government to make critical decisions regarding the level of support needed to promote manufacturing growth. The survey conducted by TheBusinessDesk.com and Squire Patton Boggs will provide valuable insights into the needs and concerns of the manufacturing sector, helping to shape policies and strategies that will drive growth and success in the years to come.
