Clearview National February 2015 - Issue 159 | Page 74

businessnews

Lack of Skilled
Workers Threatens UK
Economic Growth
One of the North’s leading window
manufacturers is warning about a severe skill
shortage hitting the manufacturing industry.
‘Now if the perfect
time for businesses
to do more’
»»Building Product Solutions
currently has five job openings and is yet to
receive any interest. The growing business
believes this is down to the current lack of
skilled workers in their industry.
Managing director Ian Harrison said: “It’s
an exciting time to join our growing team;
we’re expanding the premises, investing heavily
in marketing and PR, and securing sizable
contracts, yet we’re still struggling to fill these

excellent positions. If our industry can’t keep
pace with the construction industry, it could
affect the UK economy as a whole.”
A recent survey of 616 businesses by The
Prince’s Trust and HSBC, found 43% think
Britain’s recovery will slow down during
the next 12 months due to a lack of skilled
workers, while 35% fear their businesses will
fold as a result.
The survey revealed that, like Building
Product Solutions, half of all businesses polled
were already having trouble filling vacancies.
Ian added: “There is a huge opportunity
for young people as the manufacturing
industry continues to grow exponentially.
Manufacturing and construction in particular

offer plenty of career progression and
continued professional development.”
The industry requires 82,000 people alone
just to cover retirements over the next two
years and with 45% of businesses citing
their ageing workforce as a concern Building
Product Solutions is keen to encourage more
young people to come in to the industry.
“There are currently 737,000 young
people unemployed. Now is the perfect
time for businesses to do more to encourage
these young people into the manufacturing
and construction sector. Here, we’re keen
supporters of the apprenticeship scheme but
it’s shocking to know that only 18% of fellow
businesses are.”

North West Small business
confidence down
Compared to a year ago, small businesses have become less
optimistic in the North West and most parts of the UK, except
for London, the West Midlands, East England and Wales, according to the latest
Small Business Index produced by the Federation of Small Businesses.
»»While the quarter
four index for firms in the region
remains in positive territory at
just over +10%, this is less than in
the same period of 2013 when it
was +14%. Overall, 21% of small
businesses across the UK expect
their performance to worsen going
forward - up from 14% in Q3,
2014.
The importance of continued
government support via schemes
such as Funding for Lending is
vital, with nearly a quarter of

businesses (22%) reporting the
cost of finance as a barrier to
growth compared to 10% a year
ago. The situation is most acute for
the smallest firms. Only 11% of
small businesses with no employees
report that they find new credit
affordable, compared to 44% of
those with 51 or more staff.
However, this cooling of
confidence should be seen in the
context of a year of very strong
growth for the UK as a whole
rather than as an indication of an

74 » F EB 2015 » CL EARVI E W- UK . C O M

economic downturn, says the FSB
Merseyside, West Cheshire and
Wigan.
Chairman Elaine Moore
(pictured) said: “Small business
confidence has fallen in the region
but our surveys do consistently
show confidence easing in the
fourth quarter of 2014. It perhaps
reflects greater uncertainty in
the market place than in recent
quarters but growth and growth
prospects are up and it should
be viewed in the context of an

extremely strong year of growth.
“Certainly, what we need to see
if the economy is to be rebalanced
away from London and the
South East is a sustained period
of confidence in the North West.
That is why the FSB strongly
supports investment in regional
transport and a concerted effort
to turn the potential of great cities
like Liverpool into reality in terms
of jobs and wealth creation.
www.fsb.org.uk