Posted on 7th July 2016
Manufacturing and Engineering: So, how is it in the real world?
Post referendum the world has changed. The UK sits amidst a political vacuum and an economic maelstrom – but where does that leave business and business planning and investment?
The environment for manufacturers and engineers is particularly complex. The drop in the value of the pound should make the price of our products more attractive in world markets – a point made recently by the Mark Carney, Governor of the Bank of England. However, the increase in the cost of raw materials and in time, energy may cancel that advantage out. Throw in interest rates, funding concerns, possible tariffs on Brexit and worsening skilled labour shortages (if free movement disappears) and where does that take things?
Cue the 5th annual MHA Manufacturing and Engineering Survey, which has just been launched by South Coast and Gatwick-based Carpenter Box – the sector specialists from the accountancy and tax world. The survey, which is sponsored by Lloyds Bank, has become the go-to report used by many in the industry, parliament and beyond to gain an insight into the opportunities and challenges the sector faces, with a particular focus on SME businesses.
Once the data has been analysed, contributors will receive a comprehensive report with commentary, case studies and analysis on the state of the M&E Nation from Professor Rajkumar Roy, Director of Manufacturing at the University of Cranfield and Philippa Oldham, Head of Manufacturing and Transport at the Institution of Mechanical Engineers.
Ex engineer Chris Coopey, the Partner who heads Carpenter Box’s Manufacturing, Engineering and Technology Group commented:
“Over the past five years the survey has gone from strength to strength. This year, more than any other, the data we collect should help us to signpost the real issues around BREXIT for the sector as well as the opportunities. Our job is then to use the findings to do everything we can to help the sector grow in the face of what are very interesting times”.
Contributors to the survey will also receive an invite to a follow up event where the findings will be discussed and good practice shared.
Businesses interested in completing the survey before the closing date of Friday 5th August and receiving a copy of the final report can find it at www.carpenterbox.com/me-survey .
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