Manufacturers from across East Yorkshire are being urged to take part in a survey designed to find out what financial support they need to survive the Covid-19 pandemic.
The Manufacturing Barometer has been designed to pinpoint the exact type of financial support firms need to recover from the pandemic and is open to all SMEs in the sector that are based in East Yorkshire.
The survey is being carried out by the South West Manufacturing Advisory Service (SWMAS) and the Manufacturing Growth Programme (MGP) and is expected to generate more than 300 responses.
Taking the survey allows businesses to share their experiences on issues such as business performance, job creation, investment, and what steps need to be taken to allow firms to recover from coronavirus.
Nick Golding, managing director of SWMAS, said: “Given the ever-changing needs of industry, and, as businesses continue to work through this crisis, it’s important that SMEs are given a voice to communicate the support they need right here, right now.
“The Manufacturing Barometer does just that and we share the report with local stakeholders and national government to build an accurate picture of SME manufacturing, which can help to shape immediate and future industrial strategies.”
He added: “We have already seen a number of manufacturers transform production to grab new opportunities since COVID-19 hit, with some utilising this time to enhance their capabilities, develop new products and upskill their staff.
“Despite some positive actions from businesses within the industry, we must continue to support their ongoing recovery over the coming months.”
The most recent Barometer was completed in July and found that 59% of respondents were in "survival or recovery" mode.
It also found that more than three quarters (76%) of SME manufacturers had seen their sales drop since March, while almost half of firms thought this would continue until the end of 2020.
The results suggested that businesses needed more financial support to continue.
Martin Coats, managing director of MGP, said: “In July, 80% said they had relied on the furlough scheme to retain employees, while over a third of businesses (36%) were expecting to make job cuts by the end of 2020.”
“With the scheme ending this month, and further local restrictions being implemented daily as COVID-19 infection rates continue to rise, it’s vital that government understand what’s needed to protect UK manufacturing.”
“This quarter we want to pinpoint the type of financial support that would have the greatest impact on SME manufacturers at this time.
"With the end of the EU transition period further changing the landscape for supply chains and export/import, we also want to uncover which non-financial support might help, including supply chain optimisation, recruitment and/or market diversification. It’s time for companies to have their say.”
