UK manufacturers are looking forward to a good second half of 2024 as orders and output are expected to rise. Despite the challenges of a skills shortage, the sector is upbeat about its prospects. According to a recent Make UK survey, the trade body for manufacturing,...
Responding to recent import and supply chain challenges, on 17 January 2024 the UK government launched the Critical Imports and Supply Chain Strategy, an initiative aimed at improving the nation's ability to adapt to global disruptions in the face of adversity. ...
On 26th November, HMRC's Department for Business & Trade unveiled its much-anticipated Advanced Manufacturing Plan. This plan was released shortly after the chancellor announced £4.5 billion in funding for growth and innovation in the manufacturing sector. The...
The UK manufacturing sector has overtaken France in the world rankings and now sits in eighth place according to official data published by Make UK. 2021 is the latest year for which global manufacturing output are available. This data shows that the UK’s...
Managing and investing charity funds is a delicate balancing act. Trustees have a responsibility to ensure that funds are invested in a manner that aligns with the charitable purpose of the organisation whilst maximising returns. On 1st August 2023, the Charity...
On 16th May, the IASB published guidance regarding the effects of climate related matters on financial statements prepared in accordance with the IFRS for SMEs financial statements. Full guidance can be found here. The guidance contains examples of areas where...
The government is currently consulting on various options to simplify non-financial reporting rules indicating consideration of the appropriateness of the current company thresholds. The Department for Business and Trade (DBT) and Financial Reporting Council (FRC) are...
Whether mandated by statutory, or if your company falls below the Companies Act size threshold for an audit, there are many benefits to conducting an audit of your financial statement. Although many organisations see audit as a necessary compliance evil, many entities...
There have been UK skills shortages for some time, particularly across the manufacturing and engineering sectors. However, since the pandemic, these skills shortages have spread into other sectors, including hospitality and professional services. In this article, we...
The UK government has announced a £12.4 million fund to help energy intensive industries cut emissions and reduce costs. An energy intensive industry usually refers to businesses that operate in the industrial sector and for these businesses, energy costs are normally...
Introduction The Digital Catapult’s Manufacturing Leaders poll 2022 has found that the top priority for business leaders in the manufacturing industry across the UK is the commitment to innovation and to continue investing in deep technology solutions. What about...
In 2023, there will be many challenges that manufacturers will need to overcome. Energy prices and inflation will be among the biggest challenges. Other challenges include: Supply chain challenges Increased transport costs Less foreign investment Energy prices...