UK manufacturers start to invest in sustainable growth
Manufacturers are beginning to invest in sustainable growth because of increasing market volatility. Sustainable growth is growth that is ethical, responsible, and repeatable and is vital for the long-term growth of a business. The aim of this is to improve business growth and business reputation by being ethical and responsible to the community around them.
Why are manufacturers investing in sustainable growth?
The main challenge UK businesses are currently facing is a lack of visibility into suppliers and customers. Without this information or knowledge, it is difficult for businesses to assess when they need to scale up or scale down operations. However, research findings have concluded that there is a correlation between improving visibility and creating sustainable supply chains with business growth. This is most likely the reason why manufacturers are investing in sustainable growth.
How many manufacturers are investing in sustainable growth?
Almost 50% of companies surveyed by Epicor stated that they are currently investing in sustainability in order to grow their business and promote business ethics. 32% of manufacturers are switching to environmentally friendly power sources for their operations. In addition to this 35% of manufacturers are looking through their supply chain to ensure they have a positive social impact. This is because many consumers are now extremely conscious about their sustainability and social impact. 39% of manufacturers believe that consumer trust is essential to increasing competitiveness. Therefore, manufacturers have decided they need to invest in sustainable growth to meet this requirement so their supply chain continues to flow.
How can we help
At Hawsons we have a dedicated team of manufacturing accountants at our offices in Sheffield, Doncaster, and Northampton. Our specialist team offers a wide range of services which are tailored to meet your individual needs. Our understanding of the issues faced by the manufacturing and engineering businesses means that we can proactively seek out ways for you to maximise your profitability and minimise your tax liabilities.
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