Manufacturing Barometer suggests trouble for SMEs

By Jack Grimshaw
Initial findings from the Manufacturing Barometer, a survey of firms across England, has revealed that 87% of SMEs reported a significant decrease in pr...

Initial findings from the Manufacturing Barometer, a survey of firms across England, has revealed that 87% of SMEs reported a significant decrease in production volumes.

With sales expected to drop in the coming months, more than half of the companies surveyed expect to let staff go, even with the additional support coming from the UK government’s furlough scheme, where 80% of employee wages are covered by the government.

Financial support has been listed as the most important, urgent need for businesses by the vast majority, as disruption to supply chains continues to harm business. Simon Howes, managing director of the Manufacturing Barometer publisher SWMAS, said "COVID-19 is already having a significant impact on the majority of SME manufacturers surveyed and many of those who have yet to experience a change are expecting this global health and economic crisis to affect their business over the coming weeks and months.”

SEE ALSO

The largest survey of its type in the country, the Manufacturing Barometer has suggested that routes into new markets is one of the easiest ways to companies to navigate the disruption by tapping into new customer bases. One in five manufacturers have reportedly responded to the government’s plea for more medical equipment, such as PPE masks, ventilators and protective shields, but uncertainty remains around whether all offers will be taken up. 

13% of manufacturers surveyed reported an increase in production levels in the report. These companies have been found to be extending their offerings into fields with higher than normal levels of demand. 

For more information on manufacturing topics - please take a look at the latest edition of Manufacturing Global.

Follow us on LinkedIn and Twitter.

Share
Share

Featured Articles

Top 10: Manufacturing Companies in MEA

Manufacturing Digital takes a look at the top 10 largest manufacturers in MEA, including Sharp, Genetco and Julphar

Manufacturing & Mobility LIVE heads to Chicago in 2025

Manufacturing & Mobility LIVE expands into in-person events, heading to the US with its sister events P&SC LIVE and Sustainability LIVE

What to see and do at GSMA MWC Shanghai 2024

At the 2024 GSMA MWC in Shanghai, guests will learn more about the future of 5G and IoT, as well as the role of mobile connectivity in manufacturing

EV Recycling Driven By Tata Steel, Nucor and Dowa Holdings

Sustainability & ESG

Brooke Weddle: Manufacturing Needs A Rebrand

Production & Operations

Immensa and Intaj Suhar partner to boost Omani manufacturing

Procurement & Supply Chain