Manufacturers bring back production to the UK as overseas production costs escalate
Monday 25 November 2013
Small and medium sized businesses are bringing back production to the UK as costs are escalating abroad.
A survey from the governments’ Manufacturing Advisory Service revealed “quality, cost and delivery” is bringing production back home.
The group’s National Barometer found more than a quarter of companies surveyed said the cost of offshore production was the principal reason for “re-shoring”.
Despite the move back home, for some businesses the cost of labour in the UK is still the biggest barrier for producing here.
Steven Barr, head of the Service, said: “There is certainly a growing desire from our companies to take production home, with 15 per cent of firms reporting that they have or are in the process of bringing production back. This marks a major change in approach from five years ago when the Far East and Eastern Europe seemed to be the destinations of choice.”
Mr Barr also said there was a surge in the number of firms investing in new technologies. He said: “This is at a two-year high which tells us that manufacturers are not only optimistic about the next six months, but also have one eye on the longer-term picture.”
The Manufacturing Advisory Service surveys 500 manufacturing firms every quarter to produce the National Barometer.
- 1 Finland schools: Subjects scrapped and replaced with 'topics' as country reforms its education system
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 Watch: Man takes selfie every mile of 2,600 mile hike, creates amazing timelapse video
- 4 The day I starred in Only Fools and Horses
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
Germanwings plane crash: Co-pilot Andreas Lubitz 'sought treatment for eyesight problems'
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Yemen crisis: Saudi Arabia ready for long campaign against Houthi rebels across the border
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Revealed: Putin's army of pro-Kremlin bloggers
Germanwings plane crash: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
The West has it totally wrong on Lee Kuan Yew
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...