Preparing to Emerge from the Recession

The Government’s economic policy objective within the 2011 Budget, announced in March, is to achieve strong, sustainable and balanced growth that is more evenly shared across the country and between industries.  This is also something we are keen to ensure the leisure, superyacht and small commercial marine industry achieves.  To that end we understand how important it is for companies to be prepared, ready for when we emerge from the recession, particularly those in the supply chain.

The dangers are that if the demand picks up quickly, companies may not have the trained staff or the productivity to meet that surge in demand.   This can be caused by being unable to afford to modernisation of equipment nor able to afford research and development into improving their product.  Equally companies may not be aware of and hence not compliant with the wide range of existing and new legislation that affects supply chain businesses whether they are manufacturers or providers of services.  This could put our companies at a risk of losing customers.  Also they may not be aware of export opportunities nor the small grants available to the first time overseas exhibitor.  

BMF is aware of these issues and that access to credit for what are mainly small or medium size businesses in the supply chain is the fundamental concern.   

On the credit issue we have been and remain in dialogue with the Government, the Bank of England agents and the British Bankers’ Association (BBA) with the hope of achieving a better understanding of our industry across the banking network and an improvement in credit facilities.  We are also working with the BBA to look to how we can advise and train our members to be more professional in their dealings with their banks.

On productivity more than ever, BMF members need to take advantage of the technical, commercial and training services, advice and signposting that the BMF offers.   The BMF also has a key role in representing our members’ interests, particularly when regulatory changes are proposed by the UK Government and from the EU.  In doing so we aim to ensure that our responses to consultations are well prepared to help minimise wherever possible the impacts of new legislation and regulations on BMF members. 

Additionally to help support their business operations members in all regions can take advantage of free or subsidised advice from the Manufacturing Advisory Service, which the BMF works closely with to ensure it meets our industry’s needs.  The MAS helps improve delivery, quality and cost and has a successful record with many BMF members, achieving overall productivity gains in some cases of the order of 25%.  

Members should also consider looking for opportunities with universities and research organisations, facilitated by the BMF, aimed at helping the marine industry to improve its products through better use of design, materials and processes.  Opportunities include government funding for programmes such as the Materials Knowledge Transfer Network, the East Midlands Transport i-Net and EPSRC sponsorship of research students.  This support has enabled boatbuilding specific conferences to facilitate improvements in manufacturing processes, transfer of knowledge from other sectors such as the automotive industry and direct grants to SMEs to improve products and facilities. These opportunities have resulted in supply chain companies producing many innovations which have enabled the boats and products being produced by original equipment manufacturers to remain competitive in design, features and performance as well as price.  For more information on all of this please contact Adrian Waddams, our Manufacturing Manager awaddams@britishmarine.co.uk; read Adrian’s profile here.

On the subject of export opportunities our International team will help you find new overseas markets or meet boatbuilder buyers at the ‘meet the buyer’ meetings at the Tullet Prebon International London Boat Show, email cgrosscurth@britishmarine.co.uk.

Closer to home, members should be taking advantage of BMF run seminars and courses, for which they can benefit from significant discounts; depending on interest we are looking at running another session of Managing your Cash Flow, developing and pulling together a course for ‘managing your bank manager’ and organising a networking event at, for example, Seawork.

These are just a few of the ways we can help supply chain companies with support and advice on preparing to emerge from the recession.   We are keen to hear your thoughts so if you have any specific points or ideas please post them below.

Rob Stevens

Chief Executive