Since the 2008 financial crisis, UK productivity has virtually flatlined with worker productivity falling to its lowest in two years. According to the Office of National Statistics (ONS), the UK’s productivity growth is still below the pre-crisis rate of 2%, which suggests our ‘Productivity Puzzle’ is far from solved.
Productivity is a measure of the products and services the UK produces, compared to the resources used to produce them. Productivity has a significant impact on a country’s wealth, so it’s alarming to realise ours has...
If you import materials for production, then the answer is probably yes!
UK manufacturers typically rely on imported materials and components. Despite the boost that sterling depreciation can have on exports, many of our customers are feeling a more significant pinch from the rising cost of imported materials.
Price pressures are rising and we’re all feeling the impact.
As a result we are frequently asked the question: "what can our business do operationally to maintain a healthy margin?"