SW Manufacturing Barometer outcomes for March-April 2020
Posted on Friday, May 1, 2020 by Admin GradWales — No comments
This survey opened on 25th March as the nationwide lock-down began and responses were collected up until 17th April.
The barometer asked how companies across the manufacturing sector were managing their employees and supply chains, and questioned how this is affecting their production volumes, sales, and profits in light of Covid-19. Here are some snapshots from the south west regional report:
- 55% have seen a high impact in staff attendance - the largest impact on the businesses surveyed, as manufacturers aren’t able to produce goods without on-site machinery.
- 80% have seen production volumes decrease as a result of Covid-19.
- As a result, well over 80% of businesses are now predicting a reduction in sales in the coming months.
- 54% are expecting staff numbers in the company to be reduced in the next 6 months - with only 6% expecting increased staff numbers.
- Financial support is the key requirement to mitigate the impact of Covid-19, with support around supply chains, HR and, risk management and strategic planning also needed.
And as a final thank you to our manufacturing SMEs in the region... 22% of our manufacturers had responded to urgent calls for NHS equipment - so a big shout out to those that could help.
The Manufacturing Barometer is a quarterly survey that charts the experiences of UK SME manufacturers. It is the largest survey of its kind and has informed both government industrial strategy and the national debate on manufacturing. This South West focused report is generated using the input of businesses from Gloucestershire, Bristol, Somerset, Devon, Cornwall, Dorset and Wiltshire.
The full reports can be found here:
South West https://www.swmas.co.uk/knowledge/south-west-2019-q4