Wednesday, December 2, 2020

Economic recovery survey seeks opinions of Yorkshire SME manufacturers

Yorkshire companies are being urged to take part in the nation’s largest SME manufacturing survey which will aim to pinpoint the exact type of financial support firms need to recover from COVID-19.

The Manufacturing Barometer – delivered by the South West Manufacturing Advisory Service (SWMAS) and the Manufacturing Growth Programme (MGP) – is now open to local manufacturers and is expected to generate in excess of 300 responses, covering anything from current and future sales performance, through to thoughts on job creation/redundancies and plans for investment.

It takes just ten minutes to fill in (Barometer Survey) and also features a special focus section that will look to uncover some of the current pandemic and Brexit preparation issues facing businesses and what advice, guidance and financial support should be put in place to ensure a positive outcome.

“Given the ever-changing needs of industry, and, as businesses continue to work through this crisis, it’s important that SMEs are given a voice to communicate the support they need right here, right now,” said Nick Golding, Managing Director of South West Manufacturing Advisory Service.

“The Manufacturing Barometer does just that and we share the report with local stakeholders and national government to build an accurate picture of SME manufacturing, which can help to shape immediate and future industrial strategies.”

He added: “We have already seen a number of manufacturers transform production to grab new opportunities since COVID-19 hit, with some utilising this time to enhance their capabilities, develop new products and upskill their staff.

“Despite some positive actions from businesses within the industry, we must continue to support their ongoing recovery over the coming months.”

The most recent Barometer, completed in July, highlighted that 59% of respondents were in ‘survival’ or ‘recovery’ mode.

Since the COVID-19 crisis began in March, it also showed that over three quarters (76%) of SME manufacturers saw sales drop and almost half (48%) predict that this will continue until the end of 2020. This response highlights that, despite its best efforts, manufacturing would struggle to bounce back without meaningful support.

“In July, 80% said they had relied on the furlough scheme to retain employees, while over a third of businesses (36%) were expecting to make job cuts by the end of 2020,” said Martin Coats, Managing Director of the Manufacturing Growth Programme.

“With the scheme ending this month, and further local restrictions being implemented daily as COVID-19 infection rates continue to rise, it’s vital that government understand what’s needed to protect UK manufacturing.”

He added: “This quarter we want to pinpoint the type of financial support that would have the greatest impact on SME manufacturers at this time. With the end of the EU transition period further changing the landscape for supply chains and export/import, we also want to uncover which non-financial support might help, including supply chain optimisation, recruitment and/or market diversification. It’s time for companies to have their say.”

The Manufacturing Barometer is open for responses until 3pm today.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

Lincolnshire cheese company secures £250k MEIF investment

Lincolnshire-based cheese company, Chuckling Cheese, has secured a £250,000 investment to build its online presence and create 12 new jobs. The company secured the finance from First...

#GoDigital20 conference helps Lincs businesses thrive despite COVID-19

Last week saw the return of Business Lincolnshire’s annual #GoDigital conference. Held online for the first time ever, the event introduced Lincolnshire businesses to the...

Leeds housing association appoints Interim CEO

The board of Leeds-based housing association Unity Homes and Enterprise has appointed Cedric Boston as Interim Chief Executive. He will replace Ali Akbor OBE who...

LEP launches call for funding bids for major projects

Businesses and organisations in Lincolnshire are being urged to submit funding bids of £500,000 or more for major projects. The Greater Lincolnshire Local Enterprise Partnership and...

Placing sees Pressure Technologies raise £7.5m

Pressure Technologies, the listed Sheffield-headquartered engineering group, has raised £7.5 million via a placing. The placing attracted a mix of certain existing shareholders and new...

Speculative South Yorkshire development advances on-site

A £7 million speculative development of 10 industrial units in South Yorkshire is advancing on site with two units already under offer. The development, totalling...

Related news

Lincolnshire cheese company secures £250k MEIF investment

Lincolnshire-based cheese company, Chuckling Cheese, has secured a £250,000 investment to build its online presence and create 12 new jobs. The company secured the finance from First...

#GoDigital20 conference helps Lincs businesses thrive despite COVID-19

Last week saw the return of Business Lincolnshire’s annual #GoDigital conference. Held online for the first time ever, the event introduced Lincolnshire businesses to the...

Leeds housing association appoints Interim CEO

The board of Leeds-based housing association Unity Homes and Enterprise has appointed Cedric Boston as Interim Chief Executive. He will replace Ali Akbor OBE who...

LEP launches call for funding bids for major projects

Businesses and organisations in Lincolnshire are being urged to submit funding bids of £500,000 or more for major projects. The Greater Lincolnshire Local Enterprise Partnership and...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close