It’s not easy running a business. You just ask ECA members in the £2-20 million turnover bracket (page 13). The ECA’s latest market research clearly shows that SME firms are feeling vulnerable: 70% of companies expect to have to grow, diversify or merge in order to survive.

Many of these firms, around 50%, are family businesses and have been for several generations. The future, however, may be different: 40% of companies with a turnover of £5-10 million thought that in ten years’ time they would be owned by someone outside the family.

So how can companies grow their businesses and diversify? Luckily, the recent ECA conference provides some pointers (pages 20-22). New legislation such as Part L of the Building Regulations and the WEEE Directive are just two areas of potential new business.

Part L will present opportunities for contractors to advise clients on low energy lighting and heating solutions. Contractors are also well placed to offer lamp recycling services when the WEEE Directive comes in next year.

Clients are also demanding action on sustainability issues and a better health and safety performance. The opportunities are there for those firms that want to make their business stand out from the pack.

Source

Electrical and Mechanical Contractor