September 22nd, 2017, Florence, Italy – PM Theresa May addressed a roomful of British politicians and journalists, forecasting the completion of Brexit as 2019. Undoubtedly, with these times of economic uncertainty, it is imperative that businesses capitalise on the existing trade agreements.
We may be in uncertain times, but UK manufacturing has the potential to grow and flourish through whatever is coming. That’s where the Manufacturing Growth Programme comes in. It’s available now for just that reason. To help UK manufacturers to become stronger, more profitable and seize opportunities for growth.
Currently backed by the EU’s European Regional Development Fund, the Manufacturing Growth Programme (MGP) has been set up to serve Small and Medium-sized Enterprises (SMEs).
According to an employment survey from the Office for National Statistics (ONS): ‘Workforce by industry and Nationality for Norfolk and Suffolk’, within Norfolk, only the public sector, wholesale/retail trade, and professional/business services, employ more people than the Manufacturing industry – a number just shy of three million!
The Manufacturing Growth Programme provides unrivalled support for SMEs. Providing assistance and funding to manufacturers, aiding those to overcome issues such as ‘trying to keep costs down (57%*)’ and ‘getting the price right (48%*)’.
In 2015, Exact – one of the leading accounting, CRM and industry-specific solutions for SMEs in the Accountancy, Manufacturing, Professional Services and Wholesale Distribution sectors – released the findings from their survey of nearly 3,000 SME leaders, highlighting the manufacturing industry’s stance on the uptake of recent technology, including its benefits, and the problems they have encountered*.
In the ‘Exact 2015 SME Cloud Barometer’, 34% of SME manufacturers stated having issues maximising product innovation. The report also revealed a notable change in purchasing behaviour, as 51% noted an increase in smaller orders, and a subsequent frequency of.
UK SME manufacturers missing out on ‘billions’
The independent research study of SME leaders – across the UK, the USA, France, Germany, the Netherlands and Belgium – showed that 14% of UK manufacturers failed to respond to all ‘Request for Proposals’ on time, compared to the global mean of 11%. The figures highlight how UK manufacturers are potentially missing out on £25bn in extra revenue.
Are you sure your business is running at optimum productivity and profitability? Are you wasting money? Are you looking at growing your business? Do you have concerns around Brexit and how it will affect you?
If the answer to any of these questions is yes, then it’s time to talk to me about the Manufacturing Growth Programme while funding is still available.
So, if you’re a manufacturer in Norfolk, or the South East of England; with less than 250 employees; have a turnover less than or equal to £43 million or a balance sheet total less than or equal to £37 million; and, you are clearly able to demonstrate an intention to strategically grow and profitably develop; or you would just like to find out more about the Manufacturing Growth Programme, contact Stuart Allan for more information and an introductory meeting.