Supply chain support and longer-term assistance are top of the wish list for UK manufacturing SMEs if they are to make the most of the post-pandemic recovery and the long-anticipated UK Shared Prosperity Fund. Over 75% of the 335 firms questioned by the Manufacturing Growth Programme (MGP) in its latest report indicated that supply chain improvement would make them more profitable, while grants to help them buy new equipment and invest in new technologies to support digitalisation would make the biggest difference to ongoing performance.
The survey – the largest ever undertaken on the future of industrial business support – showed that management teams wanted access to specialist external advice and funding to drive profitability (68%), increase sales (62%) and boost productivity (58%). Some 75% felt that leadership and management training would be beneficial, while 83% wanted business support delivery from experts with significant industry experience.
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