Thank you to all the SME manufacturing firms who took part in October's survey!
The data has now been analysed, and we are pleased to share the findings below...
Special Focus: Research & Development (R&D) in UK Manufacturing
R&D is an important aspect of UK manufacturing, so we wanted to find out how ongoing challenges are impacting these crucial investments, and if R&D budgets are being affected by the current economic climate.
What does this quarter's report reveal?
Current trading conditions are still negatively impacting many SME businesses across the UK manufacturing sector:
Over three quarters said they have ideas for new products to be manufactured in the UK:
However, over half of these respondents said there are challenges preventing them from bringing these products to market, and cited the following issues:
Just under half of those responding said they have a dedicated R&D budget...we asked how they think this will change over the next 2 - 3 years as a result of the current econimic climate:
Click on the link below to read the full report...