Survey finds construction companies are positive about Brexit and UK economy: According to recent construction market research, those within the construction industry are feeling more positive about the economy than other industries, with approximately 75 per cent of construction companies anticipating business growth in 2017. However, the firms in the survey highlighted the skills shortage and how 25 per cent of construction firms are having a difficult time with recruitment.
The research report – entitled The Business Census 2017 – discovered that 66 per cent of construction firms were feeling confident about the economy in the United Kingdom, which is a higher percentage than any other large industry.
The annual survey, which was conducted by the business data website, Company Check, questioned 1,300 firms to arrive at its results. The research was carried out between November and December of 2016 and revealed that just 25 per cent of construction businesses believed that the vote for Brexit has had a negative effect on their company. As well as this, 11 per cent said that they effect had been positive, whereas the majority (61 per cent) said that the vote to leave the European Union has had no impact on their business, which is a higher percentage than any other industry.
In comparison with 64 per cent of construction firms who revealed that their business had grown in 2016, nearly three quarters (74 per cent) said that they anticipated to grow further during 2017. The figure across all the industries was a similar 73 per cent.
The findings also revealed that just 18 per cent of construction firms were worried about a potential economic decline next year, which made it the most optimistic industry. However, the construction sector was the industry which admitted to being the most affected by recruitment issues in 2016 at a rate of 25 per cent.