Manufacturing Sector “Cautiously Optimistic” in the South East

A dinner at the Spinnaker Tower in Portsmouth, organised by Top Five Accountants BDO and leading regional law firm Thomas Eggar brought together some of the leading figures in manufacturing to discuss the current challenges within the industry and opportunities for the future.

Speaking at the event were Stephen Radley, Director of Policy and External Affairs for the EEF, the UK’s leading industry body for the sector, and Managing Director at Bang & Olufsen UK, Lars Flyvholm. Both conceded that although the market remained uncertain, the future was starting to look brighter for the industry. Radley spoke about the potential for an export-based recovery for manufacturers who are able to take advantage of fast growing markets in India, South America and the Far East. He stated his belief that manufacturing will be a key factor in the economic recovery of the country, but reiterated: “It is absolutely vital that manufacturers look for markets outside of Europe to succeed. We need to be incredibly agile and ready to respond to market changes in order to take advantage of opportunities.” Robin Lloyd, Director and Head of Manufacturing at BDO in Southampton stated: “There are still challenges ahead, but our work with key manufacturers in the region and analysis of trends suggest that a growth in activity levels should begin in earnest towards the end of the year and gain momentum as we move into 2011.” Speaking about Bang & Olufsen’s strategy for success, Lars Flyvholm reflected Radley’s view in emphasizing the need for agility and spoke also about the need for focus and streamlining within an organisation. Explaining how the company managed the impact of the economic downturn, Flyvholm said: “We’ve instituted a process of continual improvement, and with that, we’ve seen the value of consistent and frequent communication with all our stakeholders – staff, customers, suppliers and partners. There are many opportunities for manufacturers who are listening to market demands and responding to them quickly.” Caroline Armitage, Partner and Head of Manufacturing and Logistics at Thomas Eggar agreed with Flyvholm, adding: “Manufacturing sector growth is – at 1 per cent in the last quarter – outstripping general growth in the economy, which stands at 0.4 per cent. The success of this event confirms that there is an appetite amongst manufacturers to work together in order to ensure that the industry continues to have a strong and positive presence across the region in the future.” The dinner took place on the 27th April 2010 at the Spinnaker Tower in Portsmouth. The venue was in itself a testament to the engineering skills held within the region, and an inspiring example of how project management processes and team management turned a challenging situation into a success. COMMENTS FROM ATTENDEES AT THE EVENT: “It was a fantastic venue, excellent service and cuisine cannot fail to impress guests with panoramic views of Portsmouth and the Solent. Positive discussions concerning the manufacturing sector were a feature of the evening and there were some success stories but the general feeling is of tough market conditions prevailing for a while yet not helped by the global economics or the UK election. Signs of manufacturing returning to the UK from the Middle and Far East is good news, driven by the weak pound. We remain cautiously optimistic.” Chris Riley, CEO, Rimor “An inspiring and informative talk from the MD of Bang & Olufsen, set in a perfect venue to maximise the glorious evening. We are hopeful of an increase of manufacturing activity within the UK” Dana Cable, Financial Controller and Company Secretary, Ubichem plc. “It’s great to be part of such a positive event. In recruitment we’re seeing a particular growth in niche markets within Manufacturing. For example automotive manufacturing has seen considerable investment in R&D which has culminated demand for new talent. With marine turbines and offshore wind turbines now looking less of a pipe dream, the long term investment in renewable energy will be another niche sector to support the growth of Manufacturing as a whole.” John Dunaway, Head of Manufacturing Recruitment, Advanced Resource Managers.

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