
SMEs need financial help and an industrial strategy to support manufacturing recovery
Tata’s £4bn battery gigafactory and a £600m investment in BMW’s MINI factory headline big investments and rising orders across manufacturing in 2023. But the pincer effect of high inflation, high interest rates and high demands from recovering OEMs is putting cash pressures on SMEs. Can they get the help they need to service the recovery and benefit from it, asks Will Stirling 2023 was a year of strained recovery for the manufacturing sector. After severe component supply delays caused by fallout from the Covid-19 pandemic and the Russia-Ukraine War, 2023 edged back to normality – or a new, more expensive





