MAS initiative to boost manufacturing SMEs

A new campaign to emphasise the role that small to medium-sized enterprises (SMEs) specialising in manufacturing are driving economic growth in the UK has been launched.

 

The Manufacturing Advisory Service (MAS) is behind Manufacturing Matters – which intends to raise the profile of the sector.

 

MAS says the industry currently covers 1.1 million jobs, over 110,000 businesses and a large share of £140 billion of the country’s annual gross domestic product.

 

A week of activities is being planned to take place in November, alongside the launch of the next MAS Barometer – which provides a “snapshot” of trends among Manufacturing SMEs.

 

Throughout the week, MAS plans to conduct a series of events and debates which will cover a wide variety of topics affecting the industry – from access to finance and skills to innovation and international trade.

 

Stephen Peacock, director at Grant Thornton, which leads the consortium delivering MAS, said: “Now is the time to place the spotlight on these firms and showcase some of the amazing small to medium sized manufacturers we have in this country and the impact they undoubtedly have on the world.”

 

He added that SMEs are doing “more than most” to help take the lead in the recent economic resurgence, thanks to their desire to take on more staff, launch new products and invest in technology.

 

Recent figures released by the Engineering Employers Federation revealed that manufacturing activity among SMEs is currently at its highest since 2010.

 

The survey said that almost one in three (32 per cent) had reported an increase in output, which was an increase of 12 per cent on the last quarter.

 

It is hoped that the Manufacturing Matters initiative will also open up dialogue with politicians, major industry players and the media to help put support in place to encourage sector growth even further.

Posted by the Secret Businessman