Plant & Works Engineering February/March 2023

News 0 8 | Plant & Works Engineering www.pwemag.co.uk February/March 2023 TAt the start of the year Make UK published its 2023 Senior Executive survey which examines the views of over two hundred senior executives across manufacturing. Like the curate’s egg it had some sobering parts but also some more optimistic results too. The impact of seismic increases in energy prices shows no sign of abating despite the fall in gas prices with almost three quarters of companies expecting to see their bills increase which is likely to exacerbate planned reductions in production and other measures to cut costs. While we have welcomed the announcement made in January that the energy relief scheme will be extended the fact it is less generous is unlikely to be of help to many firms and this is an issue the Government must re-consider in its forthcoming Budget. The survey also provides evidence that the domestic political chaos of the last twelve months has impacted the competitiveness of the UK as a place to manufacture and made it less attractive to foreign investment. The number of companies believing it to be a competitive location halved from last year (down to 31% from 63%). Over four in ten companies believe the UK is now less attractive to foreign investors, while more than half of companies believe that on-going political instability is damaging business confidence. However, despite these challenges, manufacturers continue to show the same resilience they demonstrated at the height of the pandemic by boosting their growth prospects through continued investment. This includes a focus on developing new products, upskilling or re-training existing staff while almost two thirds are increasing investment in capital equipment. Encouragingly, over half of companies plan to increase investment in Apprenticeships. These investments are especially encouraging given they have traditionally been areas prone to cuts during previous economic downturns. Furthermore, to tackle the increase in energy costs specifically, over half of companies are continuing investments in energy efficiency with one in four looking at on-site generation to take themselves off the grid. To aid this process further, Make UK is calling for greater incentives to adopt green technologies through capital allowances and tax reliefs, a move supported by over a quarter of companies. It’s clear that 2023 will be another challenging year for companies with a potent cocktail of factors combining. However, for those companies who continue to invest in both technology and staff their growth prospects will remain upbeat. By MAKE UK chief executive, Stephen Phipson MAKE uk - the manufacturers’ organisation monthly news comment Swiftool Precision Engineering based in Sutton and Ashfield in Nottinghamshire has struck gold at the Make UK National Manufacturing Awards held in London. The company which supplies precision machined components for safety critical parts to the nuclear, petrochemical and aerospace markets picked up three national awards, having won three awards at the Make UK Midlands Regional ceremony back in November. The company won the Developing Future Talent Award, before being named SME of the Year and then overall Make UK Manufacturer of the Year, beating companies from across the UK The awards, organised by Make UK, the manufacturers’ organisation, the body that represents over twenty thousand manufacturing companies across the UK, were held at Canary Wharf in London to recognise the achievements of companies and Apprentices from across the UK. The company invests substantially in the development of its future workforce through its ‘Tomorrow’s workforce today’ programme which has involved significant investment in Apprentice training and a focus on building a close relationship with local colleges and schools to promote opportunities available within engineering. Given the complexity of the components that the company makes there is also a continual focus on innovation, in particular to ensure the company remains a key supplier to the Ministry of Defence next generation nuclear deterrent programme. Stephen Phipson, Chief Executive of Make UK, commented: “These awards are a testament to the dynamic companies and individuals working within engineering and manufacturing. The sector remains at the heart of creating wealth across the UK and there will be a bright future for companies and individuals that make the most of their talent.” The full list of winners in other categories: Business Growth & Strategy Briggs of Burton Energy & Sustainability Peacocks Medical Group, Newcastle Health & Safety Airbus Innovation Bluetree Medical, Rotherham Manufacturing Matters Atec Engineering Solutions, Manchester Make UK names Manufacturer of the Year Sam (left) and Stuart Handley, Directors at Swiftool, receiving their award from Haf Cennydd, Event Director from Manufacturing and Engineering Week