Some good news came from the Autumn Statement last week for the construction industry.
Much has been published on what it will mean for housing and infrastructure. Little has, however, been mentioned about Hammonds drive to double our exporting capabilities.
Part of his plans will see UKEF (UK Export Finance) having its budget doubled, thus allowing for manufacturers to more easily invest in trading in foreign markets.
Following on from my below blog written off the back of a compelling breakfast morning with the Chief Economist for the Manufacturers Association (EEF), manufacturers remain positive and there is a hunger to drive exporting; not least due to the weakened pound.
I have worked with a number of building product manufacturers who rely on exporting as a significant vehicle for growth. Her key observations are: Manufacturing in the UK has been a rocky ride (this, I know, is pointing out the obvious. I am setting the scene so bear with me) Optimism was raised in Q1 2016 but then Brexit hit our shores. With sterling some 13% down on both the dollar and euro confidence has again dipped Many manufacturers are conversely seeing this weakening as a great leveraging tool when exporting to mainland Europe and further afield Innovation and diversification within UK manufacturers are better than we perceive. Likewise after sales (servicing and upselling) is often stronger than our foreign counterparts – we simply do not shout about it enough