Survey of construction SMEs suggest worse of recession is over
Two-thirds of construction SMEs believe that the worse of the recession is behind them, according to a new report.
Data from insurance group QBE found that 65% of firms predicted stable or increasing sales turnover in the next six months, up from 47% at the end of last year.
The last six months have been particularly tough for SMEs with 80% reporting the period the worse they had ever experienced.
Over a quarter, 27% of respondents, said that they expected to make cut more jobs before the year end. Though higher than the 15% average across all industries, the figure is lower than the 32% of building SMEs that reduced staff levels in 2008.
SMEs said that the slump had forced them to reorganise their business and improve operations with 53% reporting that they now ran a more competitive business.
Fifty-nine per cent said they were better placed to make the most of an upturn than 12 months ago.
Electrical and Mechanical Contractor