The economic effects on this and other sheet metal work companies in Nottinghamshire.
How the metal work economy has changed in Nottinghamshire over the years.
Significant Economic Effects
Sheet metal work in Nottinghamshire as under-gone significant changes in the three decades this company has been established. The 1980s saw a healthy and vibrant manufacturing industry here in Nottinghamshire, which was based primarily around the mining sector. Sheet metal work companies based here in Nottinghamshire all benefited from the pool of work generated by that large industry sector. Although a sheet metal work company in Nottinghamshire may not have produced work directly for the mining industry, the general pool of work within Nottinghamshire that it did tap into was topped up significantly by the mining sector. This pool of work enabled many and varied sheet metal fabrication companies to thrive during that time. The 1980s however also saw the wider economy experiencing boom and bust periods which resulted in some of the sheet metal work companies here in Nottinghamshire, as in other areas, being forced out of business. Our company fortunately weathered the storm of the 80s recessions and continued to trade while others fell by the wayside. We did however experience several financial losses during that time due to some of our customers going into liquidation with unpaid debts.
Demise of the mining industry
The demise of the mining industry in the late 80s and into the 1990s also had significant effects on the wider manufacturing industry within the Nottinghamshire coal field area. As a part of that manufacturing industry, sheet metal work companies in Nottinghamshire felt those effects too. The pool of work mentioned earlier in this blog that many sheet metal work companies in Nottinghamshire drew their work from was seriously depleted by the loss of the mining industry’s contribution to the pool. Closed mines did not require manufactured product, this resulted in the companies directly supplying the coal mining industry looking else ware to source its work. Whilst our company did not directly manufacture any sheet metal work products for the mining industry we did notice increased competition for our work. The previously mining dependent sheet metal companies in Nottinghamshire were forced to seek out other markets. These “other markets” were to some extent where our company were already operating which in turn increased competition for our company.
Bespoke Shop Fitting Metal Work
The decade of the 2000s saw one of our main areas of business ” bespoke shop fitting metal work” significantly affected by the increase in online trade. The increased popularity with internet trade during that decade saw a reduction in shops being refitted. This in turn resulted in many shop fitting companies going out of business as their market was depleted and competition for work increased. Many shop fitting companies during that time diversified into other markets, with office and educational equipment, two areas many tried to break into. Our company however, sought to manufacture our own range of products to compensate for the loss of custom in our traditional sector of the market. Many sheet metal companies based in Nottinghamshire continued to manufacture bespoke items and are thriving within that market place. Many however have closed and it may be that a balance of supply and demand has been to some extent met enabling them to survive.
In the past ten years, we have successfully developed a range of our own products and although we still manufacture bespoke shop fitting metalwork it is we feel, in our own product range that we see our future and our continued growth.
The future success of sheet metal work companies in Nottinghamshire as with our own company it could be said is typical of any business.
“It is the ability to embrace and adapt to change”.