Paste your Google Webmaster Tools verification code here

Could SME manufacturers be making more money than they are?

The Exact 2015 SME Cloud Barometer – an independent research study of almost 3,000 SME leaders across the UK, the US, France, Germany, the Netherlands and Belgium – has indicated that small and medium-sized manufacturers in the UK are missing out on new business opportunities.

Missing out on substantial additional revenue opportunities

The report highlights that manufacturing businesses in the UK are the worst at responding to new business opportunities. Underlining the UK falling behind, Exact found that 14% of UK manufacturing businesses failed to respond to all requests for proposals on time, compared to the global average of 11%.

This failure to respond to potential business opportunities equates to as much as nearly £25bn in additional revenue that UK manufacturers are theoretically missing out on.

The research suggests that the two key challenges leading to a failure to respond on time are:

  • Finding skilled technical staff
  • Ensuring material and processing costs and accurate

Is technology adoption the answer?

Chris Hill, Partner at Hawsons, commented: “Manufacturing businesses across the UK are facing some tough challenges. At a time where a strong pound and high energy prices are making it a struggle to compete on a global scale – highlighted by the ongoing crisis in British steel –manufacturers need to ensure they are efficient in dealing with new business opportunities.

“This research by Exact emphasises the potential importance of technology adoption…with 64% of UK manufacturers surveyed believing that technology holds the key to competing on a global landscape once again. Improving current time input efficiency is crucial to winning new business opportunities.”

More from our manufacturing experts

You can find all of our latest manufacturing sector news and newsletters here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.

Chris Hill acts as commercial partner for both corporate and non-corporate clients and has worked for Hawsons throughout his career. For more information or advice on anything covered in this article, please contact Chris on [email protected] or 0114 266 7141.

Our offices

Pegasus House, 463a Glossop Road, Sheffield, S10 2QD

5 Sidings Court, White Rose Way, Doncaster, DN4 5NU

Jubilee House, 32 Duncan Close, Moulton Park, Northampton, NN3 6WL

Sheffield

0114 266 7141

Doncaster

01302 367 262

Northampton

01604 645 600

Contact

Get in touch

Pin It on Pinterest

Share or print...

Shares