Manufacturing Focus with Crowe UK – Emerging from uncertain times

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Manufacturing Focus with Crowe UK – Emerging from uncertain times

A manufacturing update and manufacturing report from Circle2Success Official Partners Crowe UK.

The UK manufacturing sector was already facing significant challenges before the global coronavirus pandemic. The timing and impact of Brexit affects all sectors and in particular manufacturing. There are also issues concerning the future of the internal combustion engine, suppressing sales, and therefore production schedules, down the supply chain in the automotive sector.

Our Manufacturing Outlook Report 2020 identified a number of key needs and opportunities across manufacturing sectors. COVID-19 has made these issues even more important when looking to the future.

In fact, the pandemic has brought the need for change into even sharper focus. To survive and thrive, the UK manufacturing industry has needed to change for quite some time, even before the impact of COVID-19, Reinvestment was needed to drive efficiency and global competitiveness and adjust to the realities of transformed, greener technologies and products.

In the manufacturing sector, COVID-19 has:

  • depleted cash and funding reserves
  • increased debt
  • limited traditional customer demand and made that demand uncertain in the future
  • exposed weaknesses in supply chains.

Manufacturers need to take a close look at their products and services and establish where and if competitive advantage can be achieved. They should exploit that advantage where they can and scale back or even abandon, where they cannot.

Continue reading.

How we can help?

We have a range of processes to assist manufacturers in getting back on track, visualising and achieving future goals and the expertise to advise on the tax and accounting issues that derive from the necessary change.

Have your say

Our bi-weekly Manufacturers’ Zoom calls provide a platform to discuss what’s working and what’s not and share your experience and thoughts with fellow manufacturers.

Friday 11 September 2020

12:00 Start
13:00 Close

Get intouch with Chris to find our more…

Chris Mould
Chris Mould

Partner, Cheltenham
T: +44 (0)1242 234421