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The European Flexographic Industry Association (EFIA) has said British companies need to invest in employee training if they are to capitalise on Britain's departure from the European Union (EU).
A statement released by the trade association said that Brexit, 'Offers significant opportunities to the print and packaging industry but only if businesses are prepared to invest in employee training to counter the widespread skills shortage faced by British manufacturers.'
While EFIA states it is unclear what the long term impact of Brexit will be, it has said that there is a marked increase in UK companies restoring offshore operations and production back to the UK.
Attributed to the depreciation of the pound, companies will stop importing goods wherever possible in order to cut back on the rising cost of foreign materials.
The statement added, 'This is excellent news for the UK print and packaging industry, heralding an influx of business to support the bourgeoning British manufacturing uplift. Home-grown organisations are expected to experience increased demand due to their ability to offer greater cooperation, flexibility and productivity, boosting employment and economic growth. According to a 2015 report by Ernst and Young, such a restoration of UK manufacturing could confer a £15 billion hike to the national economy, creating 315,000 jobs; it is therefore clear that reshoring efforts offer a fantastic opportunity to revitalise the country's prosperity.'
However, Britain's skills shortage means that many companies are not unequipped to handle this increased demand, nor do they have the flexibility of personnel to accommodate it. According to the association the most pressing issue now is to address the decline in specialist workforce know-how.