60% of British Manufacturers Run the Risk of Shutting Down

60% of British Manufacturers Run the Risk of Shutting Down

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.

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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

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