MHA Manufacturing and Engineering Survey Report 2019/20
2019/20 Manufacturing & Engineering Annual Survey Report: UK SME manufacturers continue to grow and build resilience
Our MHA Manufacturing & Engineering Survey Report is the go-to report when it comes to understanding the sector, its opportunities and challenges.
We benchmark SMEs across the UK to paint a national picture of the Manufacturing and Engineering sector. To broaden the content of this report and make it more useful as a benchmarking exercise we have changed our methodology this year. In addition to collecting responses to a client survey, we compare this to in-depth quantitative analysis which has been done in conjunction with our Data Insights team.
This years’ report reveals that while global economic conditions, Brexit/future trading tariffs and staff shortages impacted growth, SMEs remain buoyant and they’re building resilience by increasing their assets, reducing borrowing and re-evaluating supply chains.
Reports key findings
|Financial data||Client data|
|4.1% revenue growth, down from 11.2% in 2017||39% cannot plan until Brexit outcome known and 82% have evaluated supply chain risks|
|£10.49bn held in net assets, £9.97bn in 2017||39% feel a lack of infrastructure and financial backing leaves them unable to plan for 4.0 or Robotic Process Automation|
|Net borrowing down 58%||68% have measures in place to reduce their environmental impact|
|Two sectors hit hardest for revenue growth are machinery, motor and transport at -10.39% and coke, petroleum & chemical at 6.16%||78% report difficulties recruiting skilled staff and 55% will invest in training and upskilling current staff|
Our reports is just one of the tools MHA member firms use to help businesses in the manufacturing and engineering sector. The story the report tells, helps us to understand the trends and importantly, encourages conversations to help our clients make the best of opportunities, as well as deal with some of the challenges.
MHA member firms have a wealth of experience in the manufacturing and engineering sector and together act for over 2,000 companies, ranging from owner managed SMEs to global businesses with international interests. Knowledge sharing across the association means that whatever your business type is, we have experience that can help you meet your strategic goals and grow your business. MHA is the independent UK member of Baker Tilly International; this enables all member firms to help clients achieve their global ambitions.
We hope you will find the insights as set out in the findings of the report interesting and thought provoking. We would be delighted to meet with you for a further conversation around the ways in which we can help.
If you have any questions about the topics raised in this Report or would like to discuss your accounting and business advisory needs with one of our sector specialists, please contact Atul Kariya, Head of Manufacturing & Engineering, Partner directly, or send us an online enquiry.