New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in October 2023 by 11% compared with the same month in 2022. In the ten months to October 2023, new business was 14% higher than in the same period in 2022. The […]
UKEF and K-Sure have secured support worth £367m for South Korean manufacturer SeAH Steel Holding’s construction of a windtech factory near Redcar, in the Tees Valley. The financing will secure inward investment which will create 750 jobs in Teesside and ensures construction of the world’s largest wind monopile factory in Redcar. Issuing its first ever […]
New research from Cebr for Virgin Media O2 finds that improved rural connectivity could increase turnover for rural manufacturing businesses by over 7%, adding an extra £8.8bn to the UK economy. The analysis, published for the first time today, examines the role improved connectivity could play in supporting economic growth and transforming rural industries. Many […]
Made Smarter, a programme helping SME manufacturers access technology and digital skills, is to be rolled out nationally. The government has committed to expanding the Made Smarter Adoption Programme to all nine English regions in 2025-26 before working with Scotland, Wales, and Northern Ireland from 2026-27. The announcement by HM Treasury, on Friday 17 November, […]
An innovative manufacturer backed by Made Smarter has boosted productivity by 20% and reduced emissions after delivering a smart factory. Beverston Engineering, based in Knowsley, invested £173,000 in sensor technology and software to connect all 20 machines across its factory to provide real-time visibility of its manufacturing. As a result, the specialist manufacturer of components […]
Manufacturers reported that output volumes declined more quickly than expected in the three months to September, according to the CBI’s latest Industrial Trends Survey. Output volumes are expected to stagnate over the next three months. Following eight consecutive months in which expectations for selling price inflation have eased, manufacturers reported that growth in selling prices […]
Andrew Perris, UK head of FX at Bibby Financial Services: “This month’s Manufacturing PMI paints a bleak picture of a beleaguered sector in its thirteenth consecutive month of contraction – with the latest figure falling to a low last seen three years ago during the pandemic. “Raw material costs may have reduced, and supply chain […]
Britain has an opportunity to expand green manufacturing, secure its supply chains, and develop cheaper safer energy sources if it learns from other countries’ responses to the US’ Inflation Reduction Act (IRA), a think-tank says today. The Social Market Foundation – a cross-party think-tank – has said that fears that the IRA hurts British firms […]
The ONS has published its 2022 estimates for UK manufacturers’ sales by product (‘ProdCom’). Please note that these cover total sales by UK manufacturers, whether for domestic consumption or export, but do not capture consumption of goods imported from abroad. The figures are all in current price terms – in other words, not adjusted for […]
London-based manufacturing specialist, Get It Made, has launched a new 2023 grant to support the potential of women in innovation and to boost the growth of female employment within UK industry. To mark International Women in Engineering Day on 23 June, the initiative is tailored exclusively to female-led, engineering, design, tech and manufacturing enterprises, including […]
