National Manufacturing Barometer - October 2022 (Q2 2022)

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:

image 1: table showing impact of common challenges of current trading conditions (page 13 of the Manufacturing Barometer report)

 Over three quarters said they have ideas for new products to be manufactured in the UK:

graphic showing the number of respondents who have ideas for new products to be developed and 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...

National Manufacturing Barometer report - October 2022.pdf

 


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Over 90% of UK manufacturing firms are small or medium-sized (SME)...therefore, input from these businesses is vital to help highlight opportunities and challenges across the sector!
If you are a Business Leader for a UK SME manufacturing firm, click here for your invitiation to participate when the next Barometer survey goes live.