Britain Gains Brexit Boost Due To Manufacturers Bringing Business Back From Overseas

Reports have stated that companies are benefiting from Brexit by bringing business back to Britain. In fact, 25% of UK manufacturers say they have “repatriated” the production of goods and how British manufacturing can now become a major player globally thanks to job-boosting.

Rowan Crozier, CEO of metal pressing and stamping specialist, Brandauer, said:

Esther McVey, Tory MP, also commented:

UK manufacturing has received positive stats in the latest state from a recent nation report into manufacturing with 25 per cent of businesses saying they have been successful in bringing contracts back to Britain over the past year.

Many businesses are, therefore, enjoying the benefits of having been prepared to invest time and resources into the UK.

Approximately, eight out of ten companies have said they are going to employ an apprentice next year, this is almost double compared to the previous year. This suggests that businesses are thinking about the long-term approach to overcoming skills shortages.

This comes weeks after Jaguar Land Rover-owner Tata confirmed plans to implement an electric car battery factory worth £4 billion in Somerset, which it is hoped will create roughly 4,000 jobs.

Reports show that the UK remains the ninth biggest manufacturing nation with an estimated yearly output of £190 billion.

Statistics show that of firms that have hired apprentices in the last year, 97 per cent are keeping them all. Two-thirds of businesses have said they want to develop future talent and invest in their apprentices, further demonstrating the desire to develop and maintain skilled workers.

The increasing pressure of inflation was seen as a substantial barrier to attracting and keeping staff. However, that has to be weighed against employers’ concerns that, as those skilled workers do have to reach retirement age, it could leave a significant productivity gap. Apprenticeships appear to offer a genuine, cost-effective remedy to such pressures.

Global-facing British businesses will look to gain success as Freeports gather pace. These are particular zones that benefit from simplified customs procedures, tax benefits, relief on duties, and development flexibility; basically ensuring ‘turbocharged’ special economic zones.

UK manufacturers have said that although Brexit has not delivered the broad economic benefits first promised, it has created varied opportunities for SME exporters that offer competitive advantages that rivals can’t match.

Since 2020 when the UK left the EU, overseas opportunities have increased by 20 per cent for some businesses.

It is key for SMEs working with bigger manufacturers to secure Government funding as it means they can put important resources into necessary research.

Regardless of the challenges British manufacturers have faced, it still remains a worthy partner to international customers. The opportunities are there but businesses will need to ensure they have the technical competencies required to exploit the shifting landscape of how and where goods are manufactured.

Jaguar Land Rover’s announcement is a good example as not only will it see a boost in production in the UK, but it should add further credibility to manufacturing on UK shores.

If the supply chain and skills base is established then more global business will come.