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Manufacturing Barometer special focus: Barriers to Growth Opportunities

Manufacturing Barometer special focus: Barriers to Growth Opportunities

Supply chain issues set to stall SME manufacturing recovery warns latest Barometer.

Major supply chain issues and recruitment challenges are suppressing the recovery of the UK’s SME manufacturers, according to the latest Barometer.

The Manufacturing Barometer, reveals that nearly all of the 260 respondents (96%) are struggling with price changes within their supply chain.

Firms believe that rising costs are being driven by lack of availability of raw materials (94%), rising transport costs (82%), and reduced capacity in the market to meet demand (63%).

In addition to these issues, almost half of all companies (49%) are saying they are struggling to find staff as they attempt to scale back up following the pandemic.

Encouragingly, despite the challenges highlighted, this quarter’s report also reveals that 42% of firms are trading at increased levels when compared to their pre-COVID-19 position, and this is mirrored with predictions of job creation (51%) and increased future investment (49%).