It may have gone unnoticed by many, but the Government’s announcement of the ‘Leeds Reforms’ in July marked more than just a shift in regulation — it signalled the start of a fundamental reshaping of the UK’s financial landscape. In this article, Rory Crisp-Jones (pictured above), managing director of
Jones & Co Finance, explores how these reforms are set to unlock new funding streams for UK businesses, offering manufacturers and SMEs greater access to the capital they need to grow.
He said: “There is reason for optimism. These reforms aim to rewire the system by giving banks more flexibility, encouraging retail investment into UK businesses, and channelling capital into areas of innovation and regional growth.”
For UK manufacturing, the implications are significant. A 2024 report by the
Manufacturing Technologies Association (MTA), in partnership with
Oxford Economics, titled
The True Impact of UK Manufacturing, revealed that the sector’s total contribution to UK GDP stood at £518 billion — 23.1% of the national total. It also supports 7.3 million jobs across the manufacturing and supply chain, representing 22.4% of the UK’s workforce.
Yet, despite these impressive figures, the reality for many business owners is that investment decisions are often clouded by concerns over cashflow and risk. Mr Crisp-Jones noted: “We are always watching the bottom line. Even when the numbers make sense, investing for growth can feel daunting.”
However, he sees the Leeds Reforms as a turning point, adding: “Access to capital has long been one of the greatest barriers to growth. But with smarter regulation and more funding routes, business owners and manufacturers now have more tools than ever to build resilience, expand, and compete globally.”
Backing innovationStephen Phipson, CEO of
Make UK, echoed this sentiment in the organisation’s
Executive Summary for 2025, stating: “Manufacturers have demonstrated their resilience over and over again in recent years and, despite the numerous challenges they face, those that remain innovative and are prepared to invest in new technologies, expanding markets and, most crucially, their people, will continue to thrive.”
Historically, UK manufacturers have faced three persistent challenges when seeking finance. Many default to traditional bank loans, unaware of the broader range of financial tools available. Bureaucracy and regulation have often slowed progress, and regional imbalances have left businesses outside London underserved. The Leeds Reforms aim to address these issues directly. By relaxing certain EU-era capital rules, banks will have greater freedom to support high-potential businesses. Simultaneously, measures to encourage retail investment should expand the overall pool of available funds.
Crucially, the decision to base the National Wealth Fund (formerly the UK Infrastructure Bank) in Leeds sends a clear message — regional growth is a priority. This decentralisation is expected to bring tangible benefits to manufacturers across the UK. Mr Crisp-Jones believes the new funding environment presents an opportunity for businesses to think more strategically about how they finance growth. He said: “Too often, businesses overlook tools that could offer flexibility, stability, or even competitive advantage.”
From asset finance and hire purchase to invoice finance, growth loans, trade finance and ‘green’ finance, the options are expanding. He added: “The reforms do not just increase the volume of capital in the system. They make it easier to access diverse types of finance, tailored to a business’s growth stage and sector.”
Smoothing cashflowHowever, he cautions that navigating this new landscape requires careful planning. “Funding should be part of a growth strategy — not a ‘last minute fix’. Businesses must be clear on their objectives; Whether it is smoothing cashflow, investing in equipment, expanding overseas or hiring staff, each goal demands a different financial structure.” He warns against relying solely on headline rates. “It is vital to understand the true cost of capital. Fees, penalties and opportunity costs can erode profitability if not properly assessed.”
A balanced approach is key. Combining invoice finance for cash flow with asset finance for equipment, for example, can offer greater resilience; and with the range of options broader than ever, expert advice is essential. “A finance partner who understands your sector and the funding landscape can structure the right mix of solutions to support your needs.”
Looking ahead, the long-term vision is global. UK manufacturers will be better equipped to scale internationally and enter new markets. By simplifying regulation and expanding the investment pool, the UK is positioning itself as one of the most manufacturing-friendly economies in the world — a move that bodes well for job creation, skills development and economic strength.
Mr Crisp-Jones concluded: “Of course, all finance carries risk. That is why it is vital to work with an advisor who will lay out all the options, stress-test cashflow, and guard against inflation or market shifts. But where we sit today, there is a real opportunity to unlock growth by removing barriers and increasing available capital.”
At Jones & Co, the mission is clear: to help businesses navigate this new financial landscape, structure the right mix of funding, and ensure they are equipped to seize the opportunities ahead.