Richard Holden, head of manufacturing, Lloyds Commercial Banking
Why are you backing the Best Factory Awards 2013?
The origins of Lloyds Bank date from 1765 and we have been supporting Britain's manufacturers since the early years of the industrial revolution. Lloyds Commercial Banking is backing the Best Factory Awards as it promotes excellence in the manufacturing industry, recognising winning businesses.
We are committed to supporting UK manufacturing, and have invested heavily in developing the skills and knowledge of our managers who focus on this sector. We would really encourage manufacturers to enter the awards to share best practice and, at the same time, understand how they can improve their business operations. Britain has a manufacturing sector to be proud of and recognising the best case studies is essential, so that we all continue to learn and develop.
How would Britain's best factories fare in a worldwide Top Factory competition?
The best of Britain's factories are world class and already compete on a world stage. Economic climate uncertainty has prevented some UK manufacturers from reinvesting in their businesses, preferring to hold available capital in reserve. To remain competitive in a global market, UK manufacturers need to reinvest in new plant, machinery, tooling, as well as research and development. I support any vehicle that encourages business owners and their management teams to advance their business, so they can compete on an equal footing with the rest of the world.
What should manufacturers know about Lloyds TSB?
Lloyds Commercial Banking is both committed to and focused on supporting UK manufacturers as they journey through the economic cycle by making available an additional £1 billion of lending for manufacturers to drive growth in the sector. As part of this pledge, we have invested in a team of relationship managers throughout the UK – who are trained and accredited in manufacturing awareness by the Warwick Manufacturing Group – ensuring they have sector-specific knowledge and greater understanding of manufacturers' commercial business banking needs.
We aim to be the bank of choice for manufacturing businesses, strengthening our links with a number of sector trade bodies and a network of sector specialists, government agencies and finance providers, enabling us to develop banking solutions in response to changing economic conditions.
What's the key challenge for UK manufacturers in the next 12 months?
I would say that the priority here is to identify and exploit new and emerging markets. Traditionally, UK manufacturers have had close trading links with Europe. However, signs are that the challenges in that market will remain for some time and forward-thinking manufacturers need to look further afield to maximise the full potential of their business. Our knowledgeable accredited managers and specialist international business managers are able to support manufacturers in their plans to develop and export to new markets, and provide practical solutions to transact internationally.
What's your favourite UK-manufactured product and why?
This is a difficult one! There are so many to choose from. As a lover of long-haul foreign travel, I suppose the Rolls-Royce engines that power the airplanes I travel in could be considered a favourite. Well, at least they've not let me down so far! I'm partial to English wine, particularly those that are produced by Chapel Down Winery in Kent. However, my favourite UK-manufactured product has to be ceramics produced in the Potteries, of which I am an avid collector. Stoke-on-Trent is the world-renowned leader in fine ceramics. This is pottery that showcases British skills and craftsmanship at their best.
What do you wish was made in GB?
We need to take advantage of the new opportunities that may arise as a result of anticipated changes in global demand. There is also a need to continue to improve conditions for UK manufacturing companies and remove barriers to growth that are impeding UK companies. Advanced manufacturing is characterised by high levels of innovation, knowledge, skills and investment. It has a particularly important role to play in raising productivity and competitiveness.
There are huge opportunities in low-carbon, green technology, environmental and energy efficiency, and I would like to see more British companies taking the initiative and maintaining a global leading position in these markets.