UK plastics companies generate “huge returns” following K 2016

UK plastics companies exhibiting at K 2016 as part of a grant-assisted scheme have generated “huge returns” for the UK economy as a result.

According to post-show research undertaken by the British Plastics Federation (BPF), the 30 companies that participated at the show thanks to funding from the Department for International Trade (DIT) generated an average of £316,000 in business.

The data suggests that for every £1 the DIT invested in supporting companies with the cost of exhibiting at the event, an average return of £210 was generated for the UK economy.

The British Plastics Federation is using the findings to encourage greater participation at trade shows, as well as making Government aware of the healthy returns created for the wider economy as a result of assisting companies with the costs of exhibiting.

Commenting, Philip Law, Director-General of the BPF, said the Government's new Department for International Trade should register the full value accruing to the UK of the relatively modest outlay in grants to UK plastics firms exhibiting.

“Our recommendation to Liam Fox, when disbursing the doubled Export Finance budget announced in the Autumn Statement, is not to forget the winning of export business in the first place, often on the floors of trade fairs in Dusseldorf,” Law commented.

From an exhibitors perspective, Pete Kirkham, who represented Billion UK at K 2016, said the show had been a “great success”.

“Our message of 'doing more' within the injection moulding process attracted a great deal of interest from UK visitors, many who commented upon our application focus at the show. A number of orders for both machines and automation were secured during the show period, together with high level enquiries from new potential customers,” Kirkham explained.

The full range of upcoming shows eligible for grant support from the DIT is available from the BPF by clicking here.