Published by Applegate Marketplace Ltd - located at Riverside Road, Pottington Industrial Estate, Barnstaple, Devon, EX31 1LS, United Kingdom - is registered in England and Wales with company number 03990680 Applegate Marketplace Ltd 2015

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Small Business. Big Ideas.

SMALL MANUFACTURING TRENDS

SMALL MANUFACTURING IN NUMBERS

Small manufacturing businesses follow different production systems than their larger counterparts. Many manufacturing SMEs are finding success by implementing the following practises.

SMALL MANUFACTURINGS SUCCESS

180%

123

7.6%

Manufacturing, a large part of this being made up of SMEs, was praised for its exceptional growth in this years 1,000 Companies to Inspire Britain list, complied by the London Stock Exchange. Covering more than 100 industry sectors, the list includes businesses that demonstrate revenue growth, have increased their workforce, patented a num-ber of new products or have won more contracts than in the previous year.

Manufacturing in the UK enjoys strong domestic demand, helping to boost production levels across a wide range of sectors and despite increasing glob-al competition, this has paved the way for smaller manufacturers to thrive.

Whilst these successful SMEs share a number of similar attributes to larger manufacturers, smaller businesses are benefiting from differing trends in production and management. Investing in areas like Research & Development, new technology and facilities, skills and training has created a strong outlook for Britains small manufacturers.

The average annual revenue growth in small manufacturing, making the sector one of the top five performers between 2010 and 2015.

The number of SME manufacturing companies to appear on this years list, holding the majority over any of the 100+ sector categories.

The level of job creation across small manufac-turing businesses, placing it behind the food & beverage and information technology industries only.

Small manufacturers have adopted the made-to-order ethos, delivering products that directly reflect their clients needs. Customising their output on demand has negated the need for inventory management, avoiding an overstock situa-tion and decreasing supply chain costs to help the business achieve its sales goals without the expense of unnecessary materials, processing and production.

It follows that small manufacturers also benefit from im-proved quality control standards, allowing businesses to bet-ter keep to budget as fewer defects occur and costly produc-tion errors are avoided.

Realising that their current technical capabilities or resources may not fulfil demand, some manufacturers have turned to specialist companies - developing partnerships to help them handle order requests that might otherwise need a ded-icated team and could take months to complete in-house. Businesses are able to streamline production and develop relationships with other expert manufacturing companies to offer the best product.

Likewise, small manufacturers put great emphasis on under-standing their clients needs and knowing the end consumer.

Successful manufacturing businesses have embraced a cul-ture of communication and innovation in the workplace. This might involve improving the flow of information between management, departments and staff or it could refer to implementing technology solutions, building relationships with new suppliers and incorporating more environmentally friendly processes.

Discover the profitable steps small manufacturers take to build successful businesses.