From financial/HR support to pro-active supply chain management and strategic planning, SWMAS's team of experienced Manufacturing Specialists can help you through these unprecedented and challenging times.
As businesses adjust to new ways of working, we have pulled together the following practical advice to help manufacturers successfully navigate their way through these uncertain times...
The health and wellbeing of your workforce is understandably a major concern at times like these. Follow government guidelines to protect them and make sure you understand the most recent COVID-19 recommendations so you can offer employees and colleagues advice and support whether they are on-site, or working remotely.
Make sure that you keep communicating with your workforce throughout the uncertainty of the coming months.
Remember, everyone is anxious about their health, and the health of loved ones, but many could also have concerns surrounding their job security, and the financial implications of being unable to work.
Make sure you take steps to ensure that your workforce has relevant, up-to-date information at all times. Consider a daily video call/email update, which is particularly effective when not all staff are on-site at the same time. Click here for practical ways to stay connected when working remotely.
Now is the time to review all existing contracts and insurance policies. Do any cover notifiable diseases? Do you have Business Interruption Cover and, if so, what exactly does it include?
For some types of contract (such as NEC3), it may be possible to raise compensation events to deal with delays which occur as a result of COVID-19. If you are a manufacturer with current construction contracts click here for more legal guidelines regarding this.
Our advisors are available to help you understand and implement methods to assist in lowering company outgoings. Amongst other things, they can work with you to review and adapt inventory levels to align with current demands. If you feel that this would be of benefit to your business, or would like to discuss other ways we can help, get in touch to speak to one of our Manufacturing Specialists.
Keep up to date with the latest guidelines...read the latest COVID-19 Government Support for Businesses here.
Uncover additional funding available to your SME manufacturing business
We recognise that, despite government measures, cash flow will be significantly impacted for many businesses over the coming months. We can let you know of incentives and funding available that could help to alleviate this burden...
- Does capital expenditure feature in your company's business plan as a strategic step to mitigate the negative impact of COVID-19?
- Are you looking to supply into new markets or launch new products, but need financial support to get this up and running?
- Has your company recently invested in Research and Development (R&D)?
There is a variety of funding available to SME manufacturers across the South West - we'll tell you if your business is eligible, and also advise ways to use this funding for maximum benefit:
Check out our Manufacturing Resilience Programme, aimed at SME manufacturing companies to help them through these difficult times
Over recent months, SME manufacturers have highlighted a need for support in a number of key areas. To help, SWMAS has launched the Manufacturing Resilience Programme to help businesses react to challenges brought about by current conditions, such as COVID-19 and Brexit.
This funded support includes a series of webinars designed around subjects manufacturers have told us they are most interested in right now.
Sessions will focus on key strategies that can help build resilience within a manufacturing environment. To help delegates put this theory into practice, all learning is backed up by one-to-one support from our experienced team of specialists...
The Manufacturing Barometer - exclusively for SME manufacturers across the UK
Now, more than ever, it's important that SME manufacturers get the chance to communicate what they need to help them mitigate the direct and indirect impact COVID-19 has on their business.
The Manufacturing Barometer is the UK's largest quarterly survey of SME Manufacturers, uncovering trends in past performance and business predictions to call for the relevant support SME manufacturers need to overcome current challenges and target future opportunities.
Manufacturing Barometer - Q4 2020 (covering January, February, and March 2021)
In addition to finding out how SMEs across the manufacturing sector are continuously adapting to current conditions, this quarter's special focus also asks if new ways of working over the past year have offered any benefits to businesses and/or employees.
Could some of the practices made mandatory by COVID-19 restrictions lead to permanent, positive changes for manufacturing businesses?
CLICK HERE to share your views this quarter.
*OPEN FOR RESPONSES UNTIL FRIDAY 23RD APRIL 2021**
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