Growth and a war for talent – our predictions for 2015
Manufacturing Institute CEO Dr Julie Madigan takes a look at what 2015 will hold for manufacturing.
Q. What’s the current state of the manufacturing sector – have things continued improving over the past year?
A. Manufacturers are turning their attention to growth as we edge out of recession. The prospects for the Eurozone are dampening expectations however. Smaller companies, that constitute the majority of both the north west’s and Manchester’s manufacturing base, will need support to underpin the growth and increasingly skills and talent shortages and investment constraints are capping the potential of our manufacturing base.
A. The Manufacturing Institute is seeing an increase in the number of privately funded deals happening in the locality in the manufacturing sector that bodes well. The arrival of the devolution debate is welcomed providing it can be directed towards the key constraints on business growth and not hijacked by intermediary structures.
Q. What do you think the coming year will hold?
A. We anticipate steady growth in the manufacturing sector but enthusiasm will be tempered due to the relative volatility of the global economic scene. We also foresee an increasing war for talent, increasing shortages of engineering and associate professional and technical skills in the sector and an urgent need to address the practical access to capital equipment needed to support new advanced manufacturing opportunities.
Q. What are the main initiatives that The Manufacturing Institute is working on currently?
A. The Manufacturing Institute is working on an innovative new proposal to drive a new business model and economic growth for Manchester in advanced manufacturing. Watch this space!
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