A Recovery That's "Made in Britain" 

December, 2013 - David Neate - Partner

The boom days of the 1990s were driven by the relentless rise of our burgeoning services sector. The conspicuous consumption of the day was fuelled by a belief that Britain was at the forefront of the post industrial revolution. The demise of UK manufacturing was little more than collateral damage.

Yet wind forward to today and how different the picture looks as UK manufacturing leads us towards a long awaited recovery. A recent survey from the Manufacturing Advisory Service (MAS) reports that over the next quarter two thirds of UK manufacturers are planning to take on new staff. Our clients are reporting an equally positive outlook. The challenge is becoming one of meeting demand for UK manufactured products and ensuring businesses have the requisite funding for both investment and working capital.


These trends now look set fair with MAS also highlighting the number of UK SMEs now looking to bring production that had previously been off-shored back to the UK. The reasons for such an about turn are equally fascinating: 26% of SMEs cited reducing costs while 20% identified quality improvements. Such a quantum shift in the sentiment around UK manufacturing is truly amazing.


The tough lessons of the 1990s have really shaped the manufacturers of today. We, as advisors to growing businesses and their management teams, are constantly impressed by the innovative manufacturing businesses we meet and are privileged to work with. As the economic recovery accelerates manufacturing seems set to remain in the driving seat.

 

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