- Subcon – the UK's premier manufacturing supply chain show - returns 4-6 June 2019 at the NEC
- Research ahead of the event shows more than a third (36 per cent) of UK engineering and manufacturing companies have suspended or decreased investment in headcount in the wake of Brexit
- 32 per cent have suspended or decreased investment in equipment and 28 per cent say the same for research and development
London, 12 April 2019, Subcon, the UK's premier subcontract manufacturing supply chain show, has today revealed the first wave of figures from its annual barometer of the UK manufacturing and engineering, with more than a third of respondents suspending or decreasing headcount in the wake of Brexit.
A further 32 per cent are suspending or decreasing investment in equipment purchases, and 28 per cent applying the same caution to research and development (R&D). 30 per cent of respondents have put European expansion plans on hold or cut funding.
Whilst just over half of UK businesses (55 per cent) remain confident that they are correctly structured to handle the challenges of the UK exit from the EU, 48 per cent admit they are not adequately funded to do so.
- One third of respondents have created, or are in the process of establishing partnerships with companies in Europe to facilitate continued trading
- 27 per cent have submitted credentials for cross border certification, such as AEO
- 23 per cent have created, or are developing subsidiaries or divisions of existing companies on the Continent
- 15 per cent have built, or are building new premises on mainland Europe
“We even recognise this in the conference programme with Stephen Phipson, CEO of MakeUK, delivering a presentation on what the EU withdrawal is most likely to mean for the UK manufacturing supply chain. But what these figures show is that these conversations are going to be borne of the cautious, pragmatic nature that has served UK industry so well in the past.”
For further details and to register for this must-attend event, please visit http://www.subconshow.co.uk