17 November, 2023
The concept of reshoring is especially important for the manufacturing sector. By contrast with offshoring which is the process of transferring or relocating business operations to another country, reshoring is the process of returning the business operations, production and manufacturing of goods back to the company's native country from an international location.
Since Brexit and the increasing complications and expense of dealing with the EU, reshoring has been of paramount importance to ensure long-term costs are reduced, there is continued improvement in the quality of production, and to avoid supply chain bottlenecks.
Many manufacturers had been highly dependant upon the frictionless trade opportunities that came with being members of the EU. Not only did this help to maintain reliable supply chains, but EU manufacturing workers were also used to help bridge the skills gap that has been very much exposed since the referendum result.
Research from Make UK has indicated that two-thirds of companies view the UK as a competitive manufacturing location. Not only this, but a third would also consider reshoring some of their operations. This brings with it the ability for companies to rely on domestic production, and thus avoid international backlog, red tape and associated costs and risks.
There are key advantages for why your manufacturing business may look to reshoring business operations:
Our Commercial team here at Forbes Solicitors have a wealth of experience to deal with the prospects of your business looking to consider reshoring and implementing the associated contracts. With this experience, we understand the challenges that your manufacturing business will encounter and the climate of the industry at present. We can help advise you on the possible opportunities that can arise through reshoring, and how you can ensure you are best placed to continue to grow and maintain production and your business operations. If you would like to discuss further how we can assist you with what has been highlighted here, please get in touch today.
For more information contact John Pickervance in our Commercial department via email or phone on 0333 207 1134. Alternatively send any question through to Forbes Solicitors via our online Contact Form.
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