The food and beverage industry is the UK’s largest manufacturing sector. It contributes £ 28 billion to the economy annually and employs over 430,000 people.
The East Midlands employ the highest number of people in the industry at 61,000 and contribute to massive GVA production of £ 3.86 billion (Source: FDF).
Leicestershire, Rutland and Northamptonshire account for 49% of the total GVA of the East Midlands. There is no doubt that the Leicestershire food and beverage manufacturing sector is key to the continued success of the East Midlands.
On the roller coaster ride in 2020, the food and beverage companies in Leicester and Leicestershire had to adapt quickly to survive, learn new skills, change business models (such as selling online or offering a take-away service) or, unfortunately, shut down altogether.
With the outdoor hospitality and non-essential retail set to open from April 12th, the food and beverage sector is preparing for a much-anticipated comeback, but things have changed.
Not only has it changed what people want – an increase in demand for locally sourced, organic, and sustainable products – but where people move to online and local shops to shop. Throw in problems in the supply chain and at borders due to Brexit and an increase in the prices of ingredients or materials and we have a perfect storm of our own.
Jon Egley, Manager of the Growth Center, commented: “Despite the very real challenges facing the sector, confidence improved in the fourth quarter of 2020. That’s not to say that businesses weren’t pessimistic as hospitality and hospitality companies were forced to close again in December.
“But with the UK-EU trade deal agreeing, a government roadmap that sheds light at the end of the Covid tunnel, and investing in new product development, opportunities are ahead.”
The question is how do you position yourself to take advantage of this.
The old buzzword, “It’s not what you know, it’s what you know” may have been used negatively in the past when it comes to business success, but it still holds true when you talk about business support.
Over the past year, more companies than ever have turned to the Business Gateway Growth Hub for business support. The team, which supports companies in Leicester and Leicestershire, handled a staggering 3,528 inquiries – almost five times that of 2019.
The Growth Hub has a team of business consultants who provide tailor-made support for SMEs. This could relate to funding growth, entering new markets, diversifying, reducing carbon footprint, or a range of business issues.
The added benefit of connecting to the Growth Hub is that they have an expanded network of partners and vendors to direct business owners to. Recently they teamed up with the Food and Drink Forum. Together, they offer food and beverage manufacturers the opportunity to meet a range of food and beverage specialists and technical experts in a series of free online workshops. Business owners can also take advantage of the 1-on-1 advice from the Growth Hub advisory team.
The Food and Drink Forum’s research in the areas where the most assistance is needed has led to the creation of seven topics for this workshop program:
- Finances
- Sell online
- Diversification
- supply chain management
- Labeling and packaging
- Business continuity and resilience
- Human resource management
When things have changed due to the pandemic and Brexit, companies will have to adapt and change. But there is no need to do it alone.
For more information about this program or the Growth Hub, please visit www.bizgateway.org.uk or call 0116 366 8487.
The Growth Hub is co-financed by the European Regional Development Fund. It is supplied by Leicester City Council, Leicestershire County Council, East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire) and Leicester and Leicestershire Enterprise Partnership Limited (LLEP).