Manufacturers Get Inspired at Latest ‘Growth Report’ Event

Manufacturers Get Inspired at Latest ‘Growth Report’ Event

Made In Group

Earlier this week, many UK industry leaders attended the Manufacturing Growth Strategy Event organised by Made in the Midlands and hosted by Crowe UK. Findings from Made’s Manufacturing ‘Growth Report’ were presented at the event alongside an insightful presentation from Henwood Court’s Nick Platt on finance frustrations and fixes as a business leader. This was followed by an eye-opening brainstorming session set out by Crowe’s Jonathan Dudley in line with their own Manufacturing Outlook Report

Members of Made in the Midlands (MIM)  gathered at Black Country House on Tuesday 23rd April 2024  for a morning of networking and reflection on the health of the UK manufacturing industry. Jason Pitt, from MIM, kicked off the presentations with a short analysis of the statistics found in the Manufacturing Growth Report. 

A survey taken by 114 manufacturing leaders shows a largely positive outlook from the industry, the report highlighted that many are investing in current stability and future continuity. Despite economic challenges, businesses have reported remarkable growth over the past 12 months. 

(Jason Pitt- Made in Group) 

Jason discussed economic topics such as the importance for national defence and prosperity, emphasising the need for clear succession plans in businesses to manage risks tied to an ageing workforce demographic. Strategies for managing business costs and driving growth were also explored, stressing product production enhancements, market diversification, improved marketing tactics, and local supply chain establishment. 

Reflecting specifically on the roles of manufacturing business leaders, Nick Platt - Managing Director of Henwood Court Financial Services, discussed the rollercoaster of emotions leaders experience and their journey through time as business owners. 

(Nick Platt - Henwood Court Financial Services) 

Nick said: “Founders traverse the growth phases of their businesses, experiencing a range of emotions from survival to maturity. When reaching maturity, they contemplate exit strategies like selling, passing on to family or employees, or downsizing. Successful founders are known for their hard work and personal sacrifices, sometimes struggling with workaholism. They face challenges such as self-doubt and imposter syndrome but possess visionary decision-making skills and a relentless pursuit of success”. 

Many of the manufacturing leaders who attended the event said they could relate to Nick’s findings, which gave food for thought for the last aspect of the event by Jonathan Dudley, Head of Manufacturing and Partner at Crowe UK. Jonathan discussed the key findings from the company’s Manufacturing Outlook Report, which heavily reflected statistics found in Made’s Growth Report - a positive for the UK manufacturing sector.

Lastly, business leaders were encouraged to brainstorm ways in which they could allow their business to thrive or create ‘Thrival plans’ - a term coined by Jonathan to help manufacturers navigate challenges. This consisted of business leaders listing their resilience, exposures, opportunities and risks. Industry leaders reported that they found the event insightful and that it was a great opportunity to network with like minded leaders. 


Download Made in Group’s latest ‘Manufacturing Growth Report’ here.