More needed to support innovation in UK, says AMufacture

A leading UK additive manufacturer says today’s Budget contains some good news for business – but could have gone much further in supporting innovation in UK industry. 

 Portsmouth-based AMufacture says it welcomes moves to cut energy bills for 7,000 businesses in high-growth industries and a new five-year plan by the British Business Bank to invest larger amounts in successful domestic scale-ups. 

 But company founders Craig Pyser and Will Howden said the moves were set against a wider picture of depressed business confidence and rising taxes which were putting the brakes on growth. 

 “We are pleased to see some help for business around the huge cost of energy, which continues to make it more difficult for UK companies like ours to compete on a global stage. 

 “It’s also good to see the Government making access to finance easier for our brilliant entrepreneurs. 

 “But the general economic outlook remains flat and confidence among the business community extremely fragile. Today’s Budget will not change that in the long-term because extra taxes simply take more money out of circulation meaning it is not available for investment. 

 “We would have liked to see more action to cut some of the red tape around business, particularly when it comes to exports, and moves to reduce the cost of actually employing people. 

 “It has become more expensive than ever in the last 12 months to take people on and that is a real deterrent to growth.” 

 Craig, who is also chairman of AMUK, the additive manufacturing industry's trade association, said there needed to be more joined-up thinking in Government. 

 “I highlighted earlier this year how the Ministry of Defence itself recognises additive manufacturing as a transformative technology which could revolutionise supply chain resilience and cut costs by £110 million. 

 “But there is a huge gap between our industry and the Government’s procurement teams which means that all too often companies such as ours are frozen out of opportunities where we could deliver real innovation and significant savings. 

 “The technology and skills already exist to deliver a massive leap forward in the use of 3D printing across a huge number of national contracts, but these opportunities are too often not taken.” 

 AMufacture this month gained Cyber Essential Plus status and appointed former managing director of Dyson, David Hollander, as its new chairman. 

 It has recently benefited from significant follow-on investment from leading private equity firm Maven Capital and Scottish-based co-investor Turner, which has been helping ambitious companies to grow for more than 100 years. 

 It has increased its manufacturing capacity seven times in the last two years and is now targeting growth in the UK and overseas. 

 For more information about AMufacture visit https://amufacture.com/ 

Ends

Editors notes

AMufacture is the leading contract manufacturer in the additive manufacturing industry, founded in 2018 by Craig Pyser and Will Howden.