If we sum up 2013 we can certainly say that it has been a very tricky year for the sector. Those construction companies to have survived have done so at the cost of great sacrifices and cuts, both for business owners and employees. This year past, unfortunately, has also seen companies with long histories going to the wall; exhausted by the long period of crisis, and unable to keep abreast of their overheads, together with an increase in bad debtors, they have had to close their businesses, with a large number of qualified professionals going onto the lists of the unemployed.
Although for the public at large the slump in the construction sector over the last few years has only been visible in new builds, the fact is that refurbishment and renovations have been suffering a continued reduction in activity, although less so.
In 2013 this trend in the drop in contracting work has continued, made worse by increased competition, with companies that formerly only engaged in new construction now joining our sector.
Article published in: FuturENERGY January-February 2014