Member Article

Budget brings good news for the logistics industry

Last week’s Budget brought good news for the logistics industry. George Osborne has loudly trumpeted that the economy is finally starting to see some continued growth, as we leave the worst recession to ever hit the country.

Osborne has pledged to boost industry and drive prosperity, or as the Chancellor put it, “a Budget for building a resilient economy”.

The Government has guaranteed additional support for the manufacturing, housebuilding and energy sectors; key growth areas for the UK that will lead to a rise in jobs, GDP and help to fuel the future. These are all sectors which demand a vast and responsive support network to ensure they function efficiently; wherein lies a valuable opportunity for logistics.

Manufacturing facilities, for example, need round the clock supply of sometimes high value and time sensitive parts shipped in from around the world. In order to ensure this is done efficiently manufacturers rely on their logistics network to deliver seamlessly according to schedule and that parts are carefully tracked so their whereabouts are always known.

In terms of housebuilding, Osborne has promised an array of new schemes including developments at Ebbsfleet, Barking Riverside and the regeneration of Brent Cross. This will come as a welcome fillip to logistics companies that service the housebuilding industry, from those that supply the building sites directly to the manufacturing and engineering companies that provide the building materials.

Logistics is the life blood of these sectors and without technologically advanced players that offer innovative capabilities to service the demands of these complex set ups they simply would not be able to function.

It is unsurprising therefore that the logistics sector is thriving in the UK as the monopoly is broken down and new players drive competition. This Budget will only prove to help that situation as businesses receiving Government backing look to capitalise on the Chancellor’s support and expand their reach and consequent need for a wider and more efficient logistics support network.

Article written by Stuart Miller, CEO & co-founder of smart logistics company ByBox

This was posted in Bdaily's Members' News section by ByBox .