More Contractor Failure Predicted as Demand Soars
The predictions follow reports that workloads are set to rise at their steepest level in over eight months according to construction buyers.
This considerable surge comes from the combination of increased demand in the housing, commercial and infrastructure sectors. Both private and public investment is on the increase with an improved confidence in the overall economy and the government’s commitment to a high value infrastructure programme.
This should be (and is) great news for the industry, however, there are concerns regarding the amount of pressure this sudden growth may put on contractors who are suffering from the reported skills shortage, a recent lack of investment in capacity due to reduced workloads, and the still prevalent squeeze of tight margins due to price sensitivity.
Small to medium sized contractors and sub-contractors should be prepared to gear up for an increase in demand and the subsequent company growth that comes with it.
At Kenzie Group we understand that with growth comes risk, and we can provide you with an effective solution by representing you in any disputes you may face, and working with you in the future to help manage your contracts, reduce risks and improve project efficiency, saving you both time and money.