SME Manufacturers and the Covid Crisis
Despite a great deal of discussion about the effects of the Covid crisis on the economy in general, there has been less detailed analysis about how it has impacted specific types of business. We therefore worked with Oxford Innovation Services, our sister company, to analyse survey data from almost 300 SME manufacturers applying for support through the Manufacturing Growth Programme during August and September 2020.
The survey data found that SME manufacturers are being squeezed between sharply weakening demand and poorer supplier performance. The results clearly demonstrate the challenges faced by small manufacturers and the urgency of providing help to support supply chains. Specifically, through:
- Helping manufacturers to diversify products and markets to rebuild demand
- Helping to build resilience by reviewing suppliers and securing better performance
- Focused support for exporters in the face of weak demand and Brexit uncertainties.
The full report is available here.