Midlands exporters need to capitalise on a multi-million pound marketing windfall, according to national audit, tax and advisory firm Crowe Clark Whitehill.
Graham Apperley, Tax Director at the Midlands office, urged business and industry to cash in.
His comments follow the latest Manufacturing Business Network event hosted by Crowe Clark Whitehill.
Attended by many local industrialists, the focus of the evening was a round table discussion about the challenges facing manufacturers over the next 18 months, strategies to lessen the impact of any possible threats to their businesses, and the identification of potential opportunities to be exploited.
Mr Apperley said: “Everyone agreed that all the publicity for ‘UK plc’ from the Olympics and the Queen’s Jubilee was a multi-million marketing windfall for exporters. Combine this with a push to sell in the emerging economies and almost anywhere else other than Europe and you should have a winning formula.
“Participants also saw the country as a potential safe haven, with the possibility of attracting companies looking to ‘take shelter’ from the ‘Euro storm’, especially considering our low tax base, stable currency and long established supply chain.
“And there is a belief that we need to tap more into our historic links, such as furthering trade with Canada, Australia and New Zealand.”
Delegates again highlighted the alleged lack of suitably educated school leavers and appropriate training courses.
Mr Apperley went on: “A number of people at the event agreed that they would be prepared to give up some time to go into schools and academies to spread the word about careers in manufacturing.
“We need our schools to be ‘outputting’ what manufacturing businesses want. We need more emphasis on practical skills such as metalwork and woodwork.”
Johnathan Dudley, Midlands Managing Partner and the firm’s Head of Manufacturing Business, said: “Crowe Clark Whitehill will also be exploring the need for ‘a network of businesses working together for a common aim’ ”.
“It could tie in with a general desire to lobby the government to help proffer a more positive image of the sector, locally, nationally and internationally.
“There is a feeling, for instance, that there is still a negative image of manufacturing generally, all too often conjuring up visions of dark and dirty Victorian factories rather than the modern clean facilities that are the reality.”
The government was urged to consult more fully before introducing new ‘headline grabbing’ initiatives.
Mr Dudley stressed: “We have all seen the ‘U-turns’ and the spate of ‘unintended consequences’. I would urge those in the government to talk to manufacturers before making any decisions.”
“Giving banks incentives to cut interest rates are all well and good, but most businesses we talk to would prefer to pay more in interest if they can have access to vital cash flow funding. The manufacturers are confident that the work is out there and at the right prices. They just need the banks’ funding to deliver it.”
