According to data from the Manufacturing Growth Programme, funded by the European Regional Development Fund and published in The Manufacturer*, there are five specific areas of support which manufacturing businesses are seeking to boost their performance, productivity and sales.
According to the analysis of manufacturing businesses with an average turnover of between £1 million and £5 million, the five key areas of support UK manufacturers are seeking include:
- Marketing & Market Knowledge – 24%
- Quality – 15%
- Business Overview & Strategy – 14%
- Systems & Procedures – 9%
- Products, Services, Innovation & R&D – 7%
At Beavis Morgan, we specialise in working with SMEs and entrepreneurial people across a wide range of sectors including manufacturing, providing guidance and strategic advice to help in formulating plans for your business in order to strengthen its prospects of success, achieve growth and maximise wealth.
Having assisted many businesses across a variety of sectors make significant ‘money back for research and development’ claims when some were previously unaware they could, our research & development (R&D) tax relief specialists are also on hand to maximise the value of any potential claim and manage the often complex process on your behalf. We know first hand how important the R&D tax credit scheme is in encouraging innovation and increased spending on R&D activities by companies operating in the UK, as we have made a significant number of successful claims on behalf of clients who have invested in advancements.
If you would like to find out more about how we can help you plan your business efficiently and navigate the maze of tax issues for you and your company, whilst taking advantage of the various tax incentives such as the government research & development tax relief scheme, contact Steve Govey or your usual Beavis Morgan Partner.
Manufacturing Leaders’ Summit 2018 – 14-15 November | Exhibition Centre Liverpool
The Manufacturing Leaders’ Summit, organised by The Manufacturer magazine, is the UK’s largest manufacturing conference. This year, 1,000 senior decision-makers, business owners and chief executives will gather in Liverpool to benchmark their businesses, acquire new ideas and discuss real-world case studies of best practice.
10 conference streams feature UK and international manufacturing success stories – and provide delegates focused networking and learning opportunities: Leadership, Finance, Export Excellence, Innovation, Future Factory, Digital Transformation, Industrial Automation, Big Data, Talent Management, Supply Chain & Logistics.
*Source: The Manufacturer, 25 september 2018: What support are UK manufacturers asking for?