Manufacturing SMEs are on the up

At a time when many software vendors are introducing new applications and services aimed at the mid-market (SMEs), recent research shows that UK manufacturing SMEs are weathering the economic downturn and even increasing in size. The report, ‘Who are the entrepreneurs? A Survey of Small and Medium-sized Enterprises,’ is based on a telephone survey, conducted by Kingston University in May this year, across the owners of 360 UK manufacturing SMEs (between five and 249 employees). The results show that 56% of manufacturing firms have actually grown over the last three years, based on their value of sales in this period. And of these companies, 64% have expanded by employing new staff, making the manufacturing sector one of the largest SME employers with an average of 19 staff, 87% of which are full-time. Dr David Stokes of the Small Business Research Centre at Kingston University, commented: “At a time when there has been much media coverage of spectacular failures and mis-management of large corporations, this report illustrates that smaller business owners have quietly underpinned the economy through their endeavours and expertise… The Government will have to continue its efforts to stimulate this sector and continue to make it valued.”