Leading figures within the subcontractor manufacturing industry in the UK have indicated that the sector has coped well with the COVID-19 crisis and has an optimistic outlook for the future.
These reports suggest that subcontractors have very healthy sales options and are so buoyant about their future prospects that they are looking to supercharge plans for investment in their companies. This, in turn, is causing some concern about whether there are enough skilled workers and sufficiently strong chains of supply in the wake of the pandemic to be able to achieve that aim.
One of those industry leaders is Shield Group Director Chris Shield. His company has bases throughout the North and Midlands and produces assembly and machining tools for the automotive and building sectors. Speaking to ETMM, he stated that:
“The pipeline is very strong and we’re feeling a lot more positive compared to six months ago now that the situation with regards to Covid and Brexit is clearer. It makes us more confident about investing further.”
Shield added that fresh investment was now the plan, as long as the skilled employees and supply chain capacity could be found. Andrew Whitham from Brooks expressed a similar outlook, stating that his company had continued to grow during the crisis and more investment to meet demand was what it now needed. He also expressed concerns about chains of supply and skills shortages, however.
Getting an accountant for subcontractors from Goole or any anywhere else to put together a financial plan will help such firms attract new investment.