The RAF is to replace its fleet of C-130 Hercules planes with Airbus A400M Atlas aircraft, Airbus have received an order for 22 from the MoD.
As these are assembled in Spain at least it keeps jobs in Europe, I guess the alternative would be an American made machine which got me thinking about the origin of products in the global market.
I did a quick Wikipedia search for the new Boeing 787 Dreamliner, we all know Boeing as an American company and I always believed the Americans to be fiercely protective of their products and workforce, in the case of the Dreamliner I was wrong; parts of the wings are made by Mitsubishi in Japan, stabilisers and fuselage sections are made in Italy and Korea and also by Kawasaki in Japan.
Doors are from France and Sweden (SAAB make them) software development was done in India and landing gear is made here in the UK, the wiring is from France and floor beams are sourced from India.
So it’s a right amalgam of bits and bobs from all over the globe, and I am glad to see that America seems to have got over the confusion of whether to measure in Metric or Imperial!
I was talking to a director of a small engineering company earlier today, bemoaning the loss of the industry in the UK which not so long ago was thriving. I remember one factory alone in Doncaster employed around 3500, the writing was on the wall even 35 years ago; some of the parts we used came from Komatsu in Japan…………little did we know.
Having said that we must be doing something well if Boeing has their landing gear made here, I realise there are many fine companies out there with passionate directors running world class companies, and I would imagine Boeing pay their invoices on time.
The passion you have for your business will be just as strong however you may not be fortunate enough to work with blue-chip businesses such as Boeing and your cash flow will probably be up and down somewhat.
All it takes is a cancelled order and suddenly life isn’t so sweet; the HMRC are at the door to collect overdue VAT, PAYE or Corporation Tax.
At Taxgone we understand how this can affect you and would advise you to look at a Company Voluntary Arrangement to get your business back on track, or in the air! Up Up and away with a CVA!