According to a report by Thomas Brooke of Remix News, roughly 60% of British manufacturing enterprises run the risk of closing.
Brooke cited a survey by MakeUK, a manufacturing lobby organization in the United Kingdom for this data point.
MakeUK called attention to skyrocketing energy bills and the broader cost-of-living crisis as some of the key factors behind the looming closures in the manufacturing sector.
On September 3, 2022, MakeUK revealed that 42% of manufacturers have witnessed their electricity bills grow by 100% in the past 12 months, and 32% have seen their gas bill increase twofold.
These rising prices have compelled 13% of manufacturers to slash their hours of operation, with another 12% having been compelled to lay people off due to the swelling energy bills.
Jose Nino