Rebuilding Growth 2021 – our latest construction sector research
Quarter 3, 2021
Our Rebuilding Growth construction sector research shows that subcontractors across the UK have shown impressive resilience in the face of the Covid-19 pandemic with optimism emerging across the sector. However, many are struggling to take advantage of the economy reopening due to supply chain issues, which are causing a shortage of raw materials.
Despite 50% of businesses seeing an increase in activity since restrictions began to be lifted in the UK, with less than 8% reporting a reduction. Also, 58% of businesses experienced challenges such as shortages in skilled labour and rising material costs that threaten to dampen long-term growth.
Key Findings:
- Half of SMEs (50%) have seen an increase in activity since restrictions began to lift;
- However, over half (58%) of SMEs are experiencing challenges with cost and lack of availability of raw materials;
- Over four in ten SMEs (44%) list shortages of skilled labour as the greatest threat to their business.
- Four fifths (80%) of those we spoke to took at least some form of action to protect their business
