UK manufacturing at a high

As a supporter of small to medium-sized businesses, we’ve recently published The European Economic Impact Report to demonstrate the level of impact mid-market companies have on the economy of Europe.

The results demonstrated that European mid-market businesses contributed greatly to the economy with a total of €1.03 trillion in 2014.

Out of all 9 countries involved in the study, the UK’s mid-market saw the most robust growth from 2009-2014 with a 33% gross value add. Also significant; during this time there was a decline in employment for UK mid-market companies by 10%. The research also covers GVA per employee to understand productivity within UK firms. Results demonstrate that both mid-sized and large businesses drive the highest amounts of GVA per employee and “the amount of value added by each mid-market employee stands well above the average for the UK business economy as a whole.” This could be down to investing more in productivity tools to help employees on a day-to-day basis.

Industry insight put manufacturers at the top of the chart when it comes to contribution to the economy. The UK mid-market exported €41 billion worth of goods during 2012 and of this, €25 billion was from the manufacturing industry. The industry is also the UK’s largest mid-market contributor in absolute terms, contributing a total of €29 billion in GVA during 2014.

So how do UK mid-market manufacturing firms contribute so much to the European economy?

There are many reasons, but all centre on driving innovation both internally and externally: refining internal processes, listening to the market, creating new opportunities. A focus on R&D (Research and development) helps manufacturing companies to push this innovation and improvement. The research report revealed that mid-market UK firms spent £3.8 billion on R&D in 2013.

Many mid-market manufacturing companies also use ERP or MRP to help to automate, refine and notify rather than reviewing processes manually.

Want to learn more?

Paint Producer; Firwood Paints are using Sage ERP X3 to help improve their production and manufacturing processes. To help other companies in the same position, they’re holding an exclusive event at the home of Bolton Wanderers, Macron Stadium, on 16^th June 2015.

This will be a rare chance to learn from a customer on implementation and use of ERP.

Register to join the event here.

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