Supply chain issues hindering post-pandemic recovery
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British manufacturers boom but bottlenecks pushing up prices
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British SME manufacturers expect strong post-Covid recovery
Manufacturing Barometer British SME manufacturers expect strong post-Covid recovery Related Companies (Source: Daniel Graves)
Nearly two thirds of small and medium sized manufacturing firms in the UK are expecting to increase sales between now and October, with 58 percent indicating that they are planning to boost investment over the next six months as they look to the future. Out of nearly 300 firms questioned, 54 percent highlighted an increased need to recruit staff over the coming months.
This quarter’s Barometer took an in-depth look at how manufacturing SMEs are recovering from the pandemic and, encouragingly, 48 percent of respondents now expect to return to, or exceed, their pre-Covid-19 position within three months. On the jobs front, although 80 percent of businesses have utilised the government’s furlough scheme at some poin
United KingdomNearly half of small UK manufacturers see recovery soon
Reuters
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A wrench lies on a workbench at manufacturing firm Sigma UK in Hinckley, central England, May 1, 2013. REUTERS/Darren Staples
Nearly half of smaller British manufacturers expect to recover to their pre-pandemic health in the coming months, with investment and hiring plans on the rise, a survey showed on Monday.
Business support groups South West Manufacturing Advisory Service (SWMAS) and Manufacturing Growth Programme said 48% of small and medium-sized manufacturers expected to meet or surpass their pre-COVID position in the next three months.
The survey adds to other signs that a wave of optimism has swept British companies as the economy gradually reopens following a third national coronavirus lockdown.