A leading trade body for manufacturers has welcomed its first financial services member into its ranks.
The Confederation of British Metalforming (CBM), which represents more than 200 companies and 70,000 employees, has agreed a strategic relationship with NatWest that will see them work together to boost the fortunes of industry.
It is part of the organisation’s new approach to helping businesses navigate the complex economic landscape and will give members direct access to the high street bank’s specialist manufacturing team and suite of financial advice and services.
There will also be the opportunity formanufacturers to feedback on current challenges and where opportunities exist, delivering crucial intelligence that can be used to tailor future products and support.
Steve Morley, President of the CBM, was delighted with the move: “Finance is so important for our manufacturers, so it made perfect sense to invite a key supporter of the sector into our membership.
“NatWest already has an excellent reputation in industry and have experts who understand some of the nuances our companies are facing. Importantly, everyone I’ve met there has been hugely passionate about the engineering talent we have in the UK and how we can best support it going forwards.”
He continued: “We’ve worked with them to tailor the membership package and are currently in talks about hosting a series of best practice educational events that will take place at The National Metalforming Centre.
“Financial services is a critical aspect of our sector, both in the good times and in the difficult ones and, with new tax implications coming in and the spectre of Carbon Border Adjustment Mechanism (CBAM) on the horizon, we know NatWest will bring a lot of value to the table.”
The Confederation of British Metalforming believes the next few months will pose significant issues for British manufacturing, with companies having to come to terms with rising energy prices again and new changes in minimum wage and increased NIC contributions.
Members have already expressed concerns about wage inflation and having to put recruitment on hold due to increased expenditure, two direct results of changes announced in the last Labour budget.
Steve continued: “We’ve already introduced NatWest to one of our members, who were having issues with their bank not understanding the situation. They didn’t hesitate to help, arranging a meeting and then coming up with a solution that worked for all parties. I can see a lot more of this happening.”
Laura Capper, Head of Manufacturing at NatWest, added her support: “At NatWest, we understand the unique challenges manufacturers face, and we’re committed to providing
tailored financial solutions that support their growth and resilience.
“Our membership and relationship with the CBM are a natural extension of our dedication to the sector, and we’re excited to collaborate with industry leaders to address both current and future challenges.
“By working closely with businesses, we aim to deliver insights and solutions that drive long-term success and help manufacturers navigate a rapidly evolving economic landscape.”
The CBM continues to be the premier trade organisation for UK manufacturers of fasteners, forgings and pressings, cold-rolled and sheet-metal products.
In the last year it has increased its membership by attracting new companies and heavyweight manufacturers such as JLR, with plans now in place to explore additional strategic partnerships that can add different expertise to its ranks.
For further information, please visit www.thecbm.co.uk or follow the organisation across its social media channels
