The Sharing in Growth Impact...
Set up in 2012, Sharing in Growth (SiG) is part way through the delivery of a £250m gross programme, funded with £86m from the BEIS Regional Growth Fund, to accelerate the growth of UK aerospace companies.
BEIS’s recently published independent assessment (link here) has shown clear evidence of impact, linked to SiG’s approach to transform the resilience and competitiveness of UK supply chain companies.
The assessment confirms that:
“SiG has had a significant impact on employment and turnover”, in line with our forecast of securing ten thousand UK jobs.
“There is strong and consistent evidence on the positive impact of SiG on leadership attitudes and behaviours, business culture and workforce skills, knowledge, and capabilities”.
SiG goes beyond a diagnostic and “has enabled firms to actually implement change”.
The assessment stated that “the long term, intense and holistic nature of the SiG…support has been key in achieving results”. These findings recognise the time it takes to embed training, change attitudes and behaviours, and finally translate these into more ‘tangible’ effects.
“There does not appear to be a trade-off between productivity improvements/cost reductions and jobs – most firms had achieved both”. Respondents quoted an impact on cost/waste reduction and productivity improvements due to SIG. 85% of stakeholders interviewed perceived that the outcomes would not have occurred at all, outside of the UK, or occurred at a slower rate and scale.
After completion of the SiG programme, the supported companies’ average turnover had grown by 30% points more than the SQW control groups’.
Next Steps for Sharing in Growth
Sharing in Growth UK Ltd is not-for-profit, defining its motive and its price point compared to traditional business support organisations. SiG has now expanded to provide similar support to the Offshore Wind sector, Modular Housing sector and NHS supply chain.
SiG has supported over 100 companies to date and is looking to grow its support to the manufacturing sector. In the current climate, manufacturers will need to address inflation and skills shortages by developing the competitive capability of their own people and processes, areas where SiG has proven impact. Typical areas of interest are:
- Ramping up UK capability and content for high growth sectors
- Supporting companies with critical operational and/or leadership challenges
- Creating strength and resilience with key suppliers
- Securing UK jobs made possible by publicly funded technology.
For further information, please contact us at email@example.com.