Hull in Top Five for Manufacturing Growth Potential, According to New Study

THE five biggest manufacturing towns and cities in each region were scored on factors such as the availability of warehouse space, workforce size and broadband speed, which could support advanced manufacturing.

Hull took fourth position, scoring 60.55 out of 100 – thanks to its large workforce and availability of warehousing space.

The figures were compiled by Unleashed as part of its Regional Manufacturing Growth Powerhouse Report, looking at the best places for small- to mid-sized manufacturers. 

Stoke-on-Trent came out on top, scoring 64.24 out of 100. It ranked fourth for warehousing space, and has the fastest average broadband speeds, making it a contender for advanced manufacturing. Its central location puts it within commuting distance of Manchester, Sheffield and Derby, and it is also close to major manufacturing firms such as JCB and Michelin. 

Leeds took second place, then Birmingham – largely driven by their established manufacturing communities and large workforces. 

Top 10 emerging towns and cities for manufacturing growth

The Regional Manufacturing Growth Powerhouse Report also looks at which regions in the UK currently lead the way on manufacturing performance, using operational data of 1,322 SME manufacturers using its inventory management software in the first quarter of the year. The company’s researchers gave each of the UK’s 12 regions a score out of 100 based on five data points – sales revenue, lead days, profit margins, stock levels and purchasing costs.

The South-East came out on top, with firms recording the healthiest profit margins of anywhere in the UK. They retain an average of 38p for every pound they make – comfortably above the national average of 33p – giving them an index score of 70.31. 

Scotland took second position with a score of 66.87, bolstered by strong profits and keeping lead times and stock in check. The West Midlands ranked third with 63.70, thanks to strong profits and short lead times. 

In contrast, firms in Northern Ireland and the North-West generated some of the highest average revenue of anywhere in the UK at £657,164 and £635,487 respectively. Yet they ranked lowest for profitability at 25p and 28p. 

Joe Llewellyn, General Manager of ERP Small Business Division at The Access Group, the parent company of Unleashed, said:

“Regional disparities aren’t always obvious when you look at the UK’s manufacturing health as a whole – but they are an important barometer for both policymakers as well as manufacturers looking to start or expand a business. Our study challenges assumptions around certain regions, uncovering unexpected opportunities and highlighting issues that need to be addressed urgently if manufacturing is to play a part in shaping the local economy.

“Whatever region they operate in, SMEs have the advantage of speed and agility, especially if their decisions are driven by real-time stock, sales and financial data. They can adapt their production lines and supply chains, and even relocate to areas with better access to skills, suppliers and customers, and cheaper operating costs.”

This article was originally published by Hull & Humber Chamber of Commerce. Read on the Chamber site ?