This year is set to be a good one for UK manufacturers and subcontractors, according to new research taken from attendees at the Subcon 2012, an engineering exhibition.
Just over half (51%) of Subcon visitors reported that they expect prospects for their business to improve over the next 12-months, 41% expect current business levels to be maintained and just 8% expect them to decline.
A large majority (86%) plan to increase or maintain the proportion of work they placed with British suppliers while the same number also expect to maintain or increase the total amount of work they place with all subcontractors.
Research after Subcon 2012 showed that 66% came to the Show to source new suppliers while a third say that they have now placed, or are planning to place, orders with suppliers they met at the Show.
According to the new research – and in tune with the growing trend to repatriate work to the UK from the Far East – 31% of companies are looking to increase the proportion of work they place with UK companies – with 55% maintaining the proportion at the current level.