2015 Manufacturing & Engineering Survey Report
Posted On September 24, 2015 By mhauk
Our 2015 MHA Manufacturing and Engineering Survey Report is now available.
Drawing on national and regional insight from over 400 clients and contacts, the findings of our recent report, supported by Lloyds Commercial Banking, identify opportunities and concerns, signposting future developments in the sector. Despite a dip, the report reveals that optimism in the sector is still high and respondents continue to have a positive outlook for the coming year. The respondents were from a variety of sub-sectors within Manufacturing and Engineering including: Aerospace, Automotive, Agriculture, Biotechnology, Chemical, Construction, Electrical and Electronic, Food and Drink, Healthcare, Leisure, Metals, Minerals and Materials, Oil and Gas, Pharmaceuticals, Renewables and Transport to name but a few.
The report contains a national snapshot from each of our 8 member firms covering, England, Wales and Scotland. Along with commentary from the prestigious Dr Mark Swift, Head of SME Programmes, WMG, University of Warwick and from Philippa Oldham CEng MIMechE, Head of Transport and Manufacturing at the Institution of Mechanical Engineers. Main findings:
- Optimism for growth over the next 12 months is down 16% among respondents, although 76% still predict expansion.
- 28% cite problems recruiting skilled staff as the main barrier to growth, along with a lack of motivated applicants. In addition, 26% would like to see the government expand skills training in schools and colleges.
- 55% expect to increase headcount in the next year, with 56% taking on apprentices or trainees.
- Almost half (49%) are aiming to offset production cost increases through efficiency gains, with 74% of respondents reluctant to raise prices for customers.
- There was a 15% increase in the number of SME manufacturers trading with the Eurozone (now 98% of all exporters), with smaller increases in the numbers exporting to North America (up 2% to 59%) and Asia (up 4% to 50%, excluding China), as businesses seek to expand their markets.
If you would like to discuss any issues raised in the report in more detail or you would like to speak with a member of our team, please contact Hannah Farmborough or call on 0207 429 4147 to be put in contact with your local representative.