The UK government has unveiled its ambitious Invest 2035 industrial strategy, aiming to stimulate long-term economic growth and attract investment across key business sectors.
Business Secretary Jonathan Reynolds announced the plan, emphasising its focus on creating a stable environment for investors and businesses to plan for the next decade and beyond.
The strategy targets eight growth-driving sectors, including advanced manufacturing, clean energy industries, and financial services.
This sector-specific approach is designed to channel support to areas with the highest growth potential, offering significant opportunities for businesses operating within these industries.
To ensure effective implementation, the government has established an Industrial Strategy Advisory Council, chaired by Microsoft UK CEO Clare Barclay.
This council will provide expert advice and help shape policies in partnership with businesses, unions, and stakeholders from across the UK.
The strategy also addresses regional economic disparities, focusing on high-potential clusters and strategic industrial sites throughout the country.
This place-based approach could influence business location decisions and investment strategies in the coming years.
For businesses, the strategy promises improved stability for long-term planning and investment, targeted support for high-growth sectors, and potential policy interventions to spur innovation and growth.
Industry leaders have welcomed the strategy, with many arguing that carefully targeted support and intervention will be crucial for driving growth and productivity.
As the government seeks input to refine the strategy, businesses are encouraged to engage with the process and consider how they can align their plans with the evolving economic landscape.
The final Industrial Strategy and sector-specific plans are set to be published in Spring 2025, coinciding with the multi-year spending review.
Chris Spray, Customer Success Director at Lineview commented: “The Industrial Strategy’s focus on advanced manufacturing is a step in the right direction, but the real challenge will be how effectively investment is directed.
“Right now, businesses are sitting on vast amounts of untapped data—only 21% of companies that handle digitalised data are using it to generate insights, and just 2% are leveraging it for AI or automated decision-making.
“If we don’t take this moment to change this, the potential of data and the role it can play in shaping the future of industry, will continue to go to waste.
“Pairing targeted investment with improved labour laws and the reduction of zero-hours contracts can transform data-driven technology into a key driver of productivity and innovation.
“Automation and advanced processes are essential—not just to boost productivity but to keep the UK competitive. The strategy must ensure that businesses have the tools they need to modernise and grow sustainably.”
Richard Cruden, CEO at Vistech Cooling Systems, said: “The Industrial Strategy sets a bold course, but one key opportunity that deserves more attention is the efficiency of core systems.
“Often lurking in the background, outdated systems are quietly undermining energy efficiency and resilience.
“Tackling these hidden inefficiencies could unlock huge potential across sectors like advanced manufacturing.
“As the UK looks to future-proof its economy, addressing these often-overlooked areas could be the difference between incremental change and a true leap forward in industrial performance.”
