We are pleased to share our latest sector report with you which examines the current challenges facing manufacturing businesses in the UK.
To better understand the outlook of the industry, we spoke to over 100 senior decision makers working in heavy manufacturing businesses ranging from food and paper product to chemicals and steel. Close to one in five have concerns of survival without an extension to the government’s Energy Bill Relief scheme.
With more than half (53%) of firms in the sector expecting creditor pressure this year, around a quarter (28%) held similar concerns for the financial health of their supply chains.
Almost all of the businesses we surveyed had utilised the emergency funding during the pandemic, with just a third currently paying loans back on the original terms. Meanwhile, one in 10 are failing to pay back anything at all at a time of rampant inflation and increased operating costs.
Despite the challenges the sector faces, manufacturers can get ahead by proactively reviewing their operations, costs and pricing, whilst staying in close contact with their stakeholders.
We are confident that the vast majority will make it through this period emerging fitter and stronger and hope this report helps shine a light on some of the most pressing issues for manufacturers.
Our latest report examines the current state of play in the manufacturing industry and how manufacturers can survive critical challenges