Supply chain returning to UK, says Wesson
More and more East Midlands companies are bringing their supply chain back to the UK, and eschewing cheaper overseas options, according to a senior business figure in the region. Speaking at an Insider event, Alistair Wesson, East Midlands regional director at RSM Tenon, said that his firm was dealing with an increasing number of businesses turning their backs on cheaper overseas suppliers.
He said: “We deal with a lot of manufacturing businesses, and many of those who previously outsourced to cheaper territories such as China are now using UK firms. They’re responding to their customer base who have asked them bring their supplier base back to the UK.”
Wesson, speaking at Insider’s Directors Forum event, said the recovery in the East Midlands will depend on how businesses take a view on their long term future.
He added: "The economy has been bumping along the bottom. As far as manufacturing goes, I think there are different types of companies: those long-established, often family-run organisations who are investing in new machinery, people and changing the way they’re working; and those who may have been established for 75 years who are simply doing what previous generations did. They’re the ones stalling, because they’re not thinking about the future. It’s all about altering their state of mind to deal with the new challenges facing the economy."
Wesson also said confidence was a major issue regarding any economic recovery.
"We’re now facing a period of normality after over a decade of high growth, and people have to get to grips with that. Once people have grasped that concept, then we may see confidence returning to the market."
