Reuters reports that a survey of British manufacturers suggests the UK’s ability to rapidly expand domestic production in a crisis is mixed. This raises questions about the possibility to rebuild strategic industrial capacity in areas such as defence and energy. The poll of 358 manufacturers by the Manufacturing Technologies Association revealed that 38% of firms say they could increase output within three months. A further 18% said it would take three to six months. However, 29% said they would be unable to add capacity at all, and more than a quarter said they had no interest in supporting a drive to boost sovereign manufacturing. Funding shortages were cited as the biggest obstacle to expansion, followed by a lack of space. Interestingly there were significant signs of scepticism toward government policy, with 55% saying the industrial strategy had made no difference to their business and was unlikely to do so in future.
iBOSS Comment:
Although this report is based on a relatively small number of UK manufacturers it does raise significant causes for concern. If you are struggling to grow your business, if raising finance is a problem or breaking into new markets (UK or overseas) is proving difficult then come and talk to us at iBOSS. We have the knowledge, experience and contacts that can help in many cases. Call Phil on 07876 503830, visit our web site www.theiboss.co.uk or e-mail phil@theiboss.co.uk and request one of our Free, ‘no-strings’ consultations. We will be happy to explore how we can help you.