Government acts to grow manufacturing

News Article - 23 May 2012
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The recently released 'Growth Review Framework for Advanced Manufacturing' reveals a positive picture of the Government's upcoming support for the manufacturing sector. A range of measures, including financial and logistical assistance, will be implemented in both the short and long-term.

Over three years £50 million will be given to the Manufacturing Advisory Service (MAS), which provides ongoing support and guidance to develop the productivity and competitiveness of SMEs in the industry.

In addition, significant resources will be given to analysing the barriers stopping the UK from becoming Europe's leading exporter of high value goods and preventing a higher uptake of careers in the manufacturing sector.

The Government will also hold an Advanced Manufacturing summit in early January, to be attended by Nick Clegg, Vince Cable and Mark Prisk as well as representatives from other Government departments and key industry stakeholders. Conclusions reached at this event, in addition to industry response to the main tenets of the Growth Review Framework, will feed into new policy proposals throughout 2011.

Business Minister Mark Prisk considers a strong manufacturing base essential for both economic recovery and a balanced economy and is confident the framework will add value to the sector.

"The review into Advanced Manufacturing will see the Government align with industry in our shared ambition to put manufacturing industries on a more solid footing than in the past decade. I am looking forward to the manufacturing summit which will be an opportunity to agree actions that Government, industry and education can take over the next 10 years to meet our challenging ambitions."

Manufacturers will no doubt be encouraged by these developments and the Government's recognition of manufacturing as an essential contributor to economic growth. Firms will benefit from Government action but will continue to operate under difficult economic conditions - made worse by the VAT rise and the Government's austerity measures - until greater stability is found.

Ensuring operations are as profitable as possible, by addressing operational inefficiency, is essential if companies are to make the most of Government-created opportunities and compete for market share successfully. Access manufacturing and production software can help: the project and job costing module allows actual costs to be compared with up to 10 pre-set budgets, allowing firms to consistently track and analyse performance. Poor results can be followed up and inefficiencies plugged, putting firms in the strongest possible financial position to make the most of market conditions.

For more information on the benefits of Access manufacturing and production software, please call us on 0845 345 3300.

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