National Manufacturing Barometer - April 2023 (Q4 22/23)

The latest Manufacturing Barometer results are in...
Thanks to all the manufacturing business leaders who took the time to participate this quarter!

April's report offers valuable insights into the investments that UK manufacturers are planning to help them address current challenges and drive future business growth.

Key Findings this quarter...

 With almost three quarters still struggling to recruit suitably skilled staff, respondents are planning to upskill their current workforce and invest in automation to address this issue:

68% plan to offer employee training to upskill their current workforce.  43% plan to invest in automation to lower labour intensive operations.

 This is how businesses are planning to tackle rising energy costs:

66% plan to implement process efficiency improvements, 44% plan to invest in more efficient machinery/equipment, 31% said they will increase energy efficiency, and 24% plan to invest in on-site energy generation (i.e., solar panels).

 Over half have increased inventory levels to overcome supply chain challenges, despite more than a third reporting cancelled or delayed orders from their customers:

52% of respondents have increased inventory levels to support their customers.

What else is included in this report?
As well as a summary of recent and future sales, profit, staff numbers, and capital investments, this report features some positive aspirations from SME manufacturing business leaders. We are also pleased to share good news stories from a number of responding businesses, once again highlighting the creativity and innovation of UK manufacturing...

Read the full report:  National Manufacturing Barometer - April 2023.pdf

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.