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Support for manufacturing SMEs ''should focus on growth''

13 August 2010
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Support for manufacturing SMEs ''should focus on growth''Rather than concentrating on issues such as enhancing productivity and efficiency programmes, support for small and medium-sized enterprises (SMEs) in the manufacturing sector should concentrate on generating revenue growth.

This is the conclusion of a new report on the industry from the University of Cambridge's Institute for Manufacturing (IfM), which predicts the field could play a major role in the country's economic revival and job creation among a range of sectors.

Compiled by the IfM Education and Consultancy Services (IfM-ECS) industry engagement unit, the study was based on information from more than 500 manufacturing SMEs and suggested growth and sustainability should be the goals of efforts to assist businesses.

Those concerned with continuous improvement efforts in companies may also be interested in the assertion by IfM-ECS chief executive Peter Templeton that SMEs need to be given "appropriate tools to help them develop a coherent strategy", as well as help to prioritise the best way to focus limited resources and develop capabilities.

Recent figures from EEF - The Manufacturing Institute indicated that the expansion of the production sector as a whole will outstrip UK economic growth both this year and in 2011.ADNFCR-3058-ID-800025200-ADNFCR
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