DRIVES & CONTROLS SHOW PREVIEW
A SOLID FOUNDATION
CARPENTERBOX
New Head of Manufacturing predicts bright
future for sector in south east
Tony Summers, the newly appointed Head
of Manufacturing at Sussex-based MHA
Carpenter Box, sees a bright future for
engineering companies in the South East,
following an increase in sector revenues
highlighted by the 2019/2020 MHA
Manufacturing & Engineering Report.
Growth in overall income and net assets –
and an increase in R&D spend – provides
a solid foundation for future expansion,
although the report also flags challenges
around skills shortages and access to
finance.
Tony Summers commented: “It’s interesting
to see that while global economic
conditions, Brexit/future trading tariffs and
staff shortages impacted the rate of growth,
SMEs remain buoyant and are building
resilience by increasing their assets,
reducing borrowing and re-evaluating
supply chains.”
As Head of Manufacturing for MHA
Carpenter Box, Tony advises engineering
clients and also plays a key role in METALL,
a well-established forum for manufacturing,
engineering and technology businesses
in Sussex, South Surrey and the Gatwick
Diamond. His role reflects his extensive
experience of working with manufacturing
and engineering businesses.
Tony added: “The report provides a useful
snapshot of the health of manufacturing and
highlights the challenges that lay ahead,
including technological change, regulatory
uncertainty and the ongoing problem of
skills shortage. However, the sector has
delivered growth through what has been
a challenging period and I’m confident
that it will continue to thrive given the
opportunities presented by the increasing
focus by the Government on industrial
strategy and decarbonisation.”
Key findings from manufacturers’ responses:
• Revenue has grown year on year
• Growth in Net Assets grew from £9.97bn in
2017 to £10.49bn
• Borrowing is down 58%
• Post-Brexit trading: 61% of respondents
have a Brexit strategy in place
• 78% have difficulty recruiting appropriately
skilled staff
• 64% of manufacturers invest up to 8% in
R&D
• 13% stated a lack of financial backing to
invest
The report, now in its eighth year, and is
supported by Lloyds Bank Commercial
Banking in association with the Institution of
Mechanical Engineers. To provide broader
context, a quantitative and qualitative
approach was taken to compile this year’s
report, comparing an in-depth analysis of
over 1,000 UK companies, with over 230
clie
To view the report go to: www.carpenterbox.com/manufacturing-report
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PECM Issue 43