Renowned for uncovering important issues and the needs of small and medium-sized manufacturers across a variety of key areas (including sales, profits, investment, and staff), the Barometer unveils important statistics and data used for prioritising funding, identifying skills gaps, and establishing support programmes for small and medium manufacturers.
Nick Golding, managing director at SWMAS, said: “We aim to give small and medium-sized manufacturers a collective voice as the 99% of firms who are often overlooked for support. Last quarter, I was inspired by a number of the stories around Business Aspirations from this group of firms, and the innovative ways they were overcoming challenges.
"There is a great opportunity for shared learning around this, so this quarter, we are asking firms to highlight their investment priorities so that other businesses can understand the types of actions companies are taking to grow and prosper.”
Manufacturers from across the UK are being encouraged to complete this quarterly survey, giving their views on past performance and future expectations in the four key areas. The national survey also includes a special focus each quarter, this time focusing on future growth and investment plans – which will allow SMWAS to develop bespoke support packages for manufacturing businesses.
January’s survey, responded to by nearly 200 businesses, showed some positivity, with the majority of firms expecting sales and profits to rise over the next six months, However, respondents also identified a number of barriers being faced by manufacturers dominating their current and future business focuses, with as many as 64% not thinking that the benefits of implementing low carbon improvements outweigh the cost, despite rising energy prices.
Nick added: “The information gathered within the Barometer is reviewed by policymakers to understand how trends and issues are affecting the SME manufacturing demographic to design schemes and funding to help provide support.”
SWMAS conducts its National Manufacturing Barometer on a quarterly basis. To take part in the latest National Manufacturing Barometer, visit: https://surveys.swmas.co.uk/zs/OLB80e
To see the full report for October to December 2022, surveyed in January 2023, please visit: www.swmas.co.uk/knowledge/national-2022-q3.
To find out more about SWMAS, visit: www.swmas.co.uk.