UK manufacturing has received £86,000 a day over the last three years, according to new figures.
Since the introduction of the Manufacturing Advisory Service (MAS), over 1,000 days ago, the service has helped manufacturing companies see an increase in added value of over £86 million.
As a result, every company helped by the MAS has, on average, benefited to the value of £106,000.
The figures will be good news for those in the industry after recent figures, from the Confederation of British Industry (CBI), showed that almost a third of companies claimed order books were below normal.
The MAS was set up to provide practical advice, through 10 centres throughout England and Wales, for manufacturing companies looking to improve their productivity and competitiveness.
Jacqui Smith, Industry Minister, said: “The service has continued to have a massive impact on British firms, adding over £86 million to UK manufacturing in just 1,000 days. A tremendous achievement.
“By continuing to work together and by helping 20,000 more UK manufacturers in the next five years improve their business, I believe we can continue to boost our international competitiveness and take full advantage of the opportunities the global market offers.”
The government has invested £15 million of DTI funds into the MAS, a figure also matched by the regional development agencies, helping to set up ten regional centres of Manufacturing Excellence,all providing hands on advice for small businesses.
