The manufacturing sector of the UK is a hugely important part of the economy, bringing billions of pounds into the country. The different manufacturing sectors can be split into different manufacturing types. These include:
- Food and Drink
- Textiles and Clothing
- Paper and Printing
- Furniture and Home Accessories
- Computers and Technology
Since the industrial revolution, the UK has embraced technological advances and invested in the latest manufacturing equipment to improve productivity and increase profits. Here at Love Finance, we work with the many different manufacturing industries, helping them arrange the finance needed to help buy the modern machinery to increase your manufacturing outgoings.
Food and Drink
The UK has a large agricultural sector that complements the food processing sector based in the UK and the large food processing plants of the well-known big brands that we see in the supermarkets; there is also a significant growth area for smaller food brands. Some examples include dairy farms that have invested in ice cream-making machinery to produce ice cream for the local market; another example is smaller breweries that work to create different flavoured alcoholic beverages.
Textiles & Clothing
Over recent years the British clothing manufacturing industry has struggled to compete on price when competing with foreign nations such as China and India. They use cheaper labour to reduce the cost of production. British clothing manufacturing competes with these nations by embracing technical advances and increasing productivity. These advancements in technology allow British clothing businesses to offer different services such as bespoke clothing, smaller production runs and custom-designed unique garments.
Paper and Printing
As with other industries, printing has embraced the digital generation; the latest age of digital printing has revolutionised the print industry. Previously setting a print job up took time and money, resulting in companies having to pay enormous set-up costs making printing costs prohibitive for smaller companies and smaller print runs. The use of a digital printer has dramatically reduced the set-up time needed by the printer, which has increased the number of small print jobs carried out and lowered costs for the end-user.
Furniture and Home Accessories
Furniture manufacturing is another market that has been under increased pressure from low-cost imports. But quality British made furniture is still in high demand. Innovations in technology can help increase production and help make you competitive with some of the imported furniture in the UK.
The automotive industry has a long history in the UK, with big automotive brands created in Great Britain, such as Rolls Royce, Jaguar, Rover and Aston Martin. However, many of these big British car brands are now foreign-owned. British car manufacturing is still strong, with 1.6 million cars being made in the UK. As well as the big car brands, we also see a primary automotive sector with custom conversions and refurbishments.
Computers and Technology
The British economy has a strong tech sector worth billions of pounds each year; this includes software development, hardware implantation and telecoms. Again, we see many computer components coming into the UK made in Asia. Still, Britain companies regularly develop lots of technological advancements that can be manufactured in the UK.
Whatever your industry, Love finance is here to help you make that next step and help you find the investment that you need to improve your business's productivity and compete on the world stage. With a wide range of finance and lease options available, we listen to your specific needs and requirements to help you arrange the funding solution that suits your company's circumstances and goals.