Productivity Still a Puzzle for South-East Manufacturers
24/06/2015 Manufacturing Advisory Service North West (MAS)
Small and medium sized manufacturers (SMEs) in London and the South East are still striving to find the answer to the 'productivity puzzle' according to latest research findings.83% of London and South East respondents to the most recent Manufacturing Barometer - produced for the Business Growth Service - have indicated that they need to improve productivity in the next six months if they are to achieve their growth plans.
This highlights the need for more firms to take action to boost efficiencies, reduce waste and maximise the potential of their workforce and machinery.
49% of London and South East manufacturers report that they expect to maintain or increase their investment in new technology, whilst just over half (51%) expect to increase investment in machinery and premises
Local firms are above the national average when it comes to future sales (72% v 70%), whilst 53% of companies are planning to take on more staff.
Steven Barr, Head of Manufacturing at the Business Growth Service commented: "Uncertainty has been the biggest feature of the last four months and this is reflected in the mixed bag of economic data that has been published recently. The Barometer is still fairly positive with slight dips in achieved sales and investment in new technology offset by positive job prospects and future expansion plans."
He went on: "Firms have once again raised the issue of productivity and, through our manufacturing experts at the Business Growth Service, we will engage with even more companies to help them with strategy, process improvement and the introduction of lean manufacturing."
The Barometer is the largest survey of its kind, reflecting the views of 503 SME manufacturers across England, employing approximately 14,000 people. There were 118 respondents within London and the South East.
Introducing the Business Growth Service
The Business Growth Service brings together successful Government-backed support, including GrowthAccelerator and the Manufacturing Advisory Service, into one wider offer, making it simpler for businesses to access the support they need to grow.
The service provides expert, tailored support for growing businesses; this includes advice for growth, export and finance.
For more information, please visit: www.greatbusiness.gov.uk/mas
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