Barometer records optimism amongst UK SME manufacturers

The latest Manufacturing Barometer, which polled over 400 SMEs across the UK, shows that nearly two thirds of companies are expecting to grow over the next six months and 52 per cent plan to invest in capital equipment and manufacturing. The report found also that more firms are trading at increased levels than they were before Covid-19.

This data was set against a backdrop of disruption, with 60 per cent of respondents stating that staff are having to spend additional time liaising with suppliers and, despite growing sales, just over half are being forced to increase product prices to recover some of their additional costs.

Organised by the South West Manufacturing Advisory Services (SWMAS) and the Manufacturing Growth Programme (MGP), the survey raised concerns around staff retention and recruitment.

Upbeat Barometer points to growth for SME manufacturers

Over 60 per cent of SME manufacturers have lost skilled staff since the beginning of the Covid-19 pandemic and almost three quarters said they have been unable to replace them. Consequently, a widening skills gap could negatively impact the recovery over the next year.