Surge in demand for British-made goods
January 28, 2015 at 6:09 PM
A new report on the state of UK manufacturing shows domestic demand feeding sector growth, while a stagnating Eurozone contributes to the faltering demand for UK exports. The CIPR/Markit survey has some significant implications for UK manufacturers who are urging consumers to show confidence in goods made in Britain.
Modern day Britain was built on the industrial exploits of our ancestors. For a period during the 19th century, British manufactured goods dominated the world market. Items manufactured in Britain were produced more efficiently and competitively than anywhere else in the world.
This competitive position was gradually eroded over the preceding decades, but a certain industrial spirit remained central to British identity. In the 1950’s manufacturing activities accounted for 35% of Britain’s national output and some 40% of its workforce.
Fast-forward to today and our industrial credentials have been significantly reduced. British made goods still have a strong reputation with domestic and international customers, but manufacturing only accounts for 10% of national output in an economy dominated by services and supermarkets. In many ways, this was expected as global forces pushed manufacturing opportunities to cheaper labour markets in the East.
Britain's got talented manufacturers
2014 brought good news for UK manufacturers. Boston Consulting Group, a widely trusted consultancy, suggested that the future was bright for British manufacturing. They reported that Britain was now the ‘lowest-cost manufacturing economy of Western Europe’.
A stagnant Eurozone economy though, seems to have undermined much of the progress made by enterprising UK manufacturers. Although domestic demand is still strong, the CIPS/Markit survey reported a three-month low in manufacturing activity.
As Britain strives for a more balanced economy which is less dependent on the financial operators who brought the global economy to an abrupt halt in 2008, domestic consumers have a pivotal role to play.
Those wishing to support British industry can do their part by buying goods manufactured in Britain. Buying British not only helps support our rich manufacturing identity, but also helps support the economy both locally and nationwide. And with a workforce that is ever-growing, UK manufacturers are finding work for generations of Brits who have seen their jobs offshored to cheaper parts of the world.
To choose goods made in Britain is also to choose quality. At H&O we face competition from companies who, by virtue of their location, are able to undercut us on price. However, we have thrived by building strong relationships with our customers. These relationships are always underpinned by a commitment to quality, and our ability offer flexible purchasing options.
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