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Post Brexit data from the Manufacturing & Engineering Sector
Sponsored by Lloyds Bank and conducted by the MHA here are the key findings from this year's survey of over 560 mostly SME businesses:
  • 86% planning capital investment in the next 12 months
  • 47% looking to increase their spend from last year
  • 12% planning for a considerable increase in the next 12 months
  • 69% predicting growth over the next 12 months
  • 65% of respondents export
  • 88% invest a percentage of turnover in R&D
  • 74% don't understand the principles of 'Industry 4.0'
Industrial revolution
  • 68% believe their main competitors are UK based
  • 47% expect to increase staff numbers in 2016/17
  • 57% intending to take on apprentices or trainees
  • 59% need to recruit production staff
  • 41% indicated they have trouble recruiting skilled machinists / technicians
Where recruitment is a barrier to growth:
  • 31% favoured adopting lean manufacturing strategies
  • 23% favoured automation or further automation as a coping strategy
Price Increases:
  • 71% took the view they could not pass on any increased costs to customers.
Improved productivity and efficiency is the strategy which most companies deploy in order to absorb price increases (49%)
 

Source: Manufacturing and Engineering Annual Report www.mha-uk.co.uk
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