Eye on the future

News reaches us today that a drop in UK job vacancies signals rising pressure on SMEs.

The latest employment figures from the Office for National Statistics show a significant drop in UK job vacancies and a rise in unemployment. When companies start holding back on recruitment, it points to broader uncertainty and rising pressures on costs. With increased National Insurance Contributions and higher minimum wages now biting, SMEs in particular are feeling the squeeze, and those in manufacturing, particularly, are forced to choose between hiring and other investments.

Business finance expert and managing director of Aurora Capital, George Holmes, highlights a slowdown in wage growth as indicating caution among businesses wary of committing to long-term cost increases.

“This hesitation often hits small businesses hardest, as they rely heavily on agility and workforce flexibility to drive growth,” he notes. “Reduced hiring will inevitably mean stretched resources and a potential slowdown in productivity for many SMEs.

For small business owners, clear signals from policymakers are crucial now more than ever.

Holmes adds: “They need reassurance, stability, and targeted support measures to confidently plan ahead. Without clarity and proactive support, there’s a real risk that SMEs will bear the brunt of ongoing economic uncertainty.”

I mention the above ahead of my visit to the European Food Manufacturing Summit in Germany. It will discuss the future for manufacturing, quality and supply chain leaders.

At a time when macro-economic factors hold great sway, it’s a good time to explore options to help industry progress.

A greater reliance on technology, an emphasis on agility and resilience, and an increasing focus on sustainability and circular economy practices will define the future of manufacturing, quality, and the supply chain.

I am looking forward to hearing how the assembled leaders will navigate changing global environments, work with a variety of partners and manage evolving digital systems.

By embracing these trends and taking proactive steps, manufacturing, quality, and supply chain, m convinced that today’s leaders in food and drink can tackle the challenges and capitalise on the opportunities of the future.

I’ll be back with a report on what they suggest.

• Rodney Jack, editor, Food & Drink Technology.
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