Make UK Start Up to Scale Up report on manufacturing SMEs
UK manufacturing plays a vital role in stimulating innovation, generating good jobs and is an engine for regional economic growth.
Make UK’s Start Up to Scale Up report illustrates the opportunities that exist to unleash the potential of smaller manufacturers, while recognising the challenges they face.
SMEs and micro businesses are the life blood of UK manufacturing.
99% of manufacturing firms
58% of manufacturing employment
The scale-up challenge for Britain’s manufacturers is different from the average business due to the cost of heavy-duty equipment and industrial real estate. Manufacturers’ investment cycles are longer, with growth slower than traditional firms. Profit from any investment takes longer to show with banks and lenders requiring to exhibit “patient finance” rather than just quick returns.
Government must understand that manufacturers need “heavy investment” to expand, with benefits seen over the longer-term rather than short term gains. However, the long-term rewards are far greater than other sectors in the economy and this investment will create well-paid jobs across the whole of the UK.