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Contractors to benefit from construction industry growth

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Construction contractors can expect a steady supply of work and more job opportunities during the remainder of the year after a new report showed a marked growth in the construction industry during October.

The CIPS/Markit UK Construction Purchasing Managers’ Index (PMI) revealed the fastest increase in new work in the sector for 12 months, with healthy business activity in every construction sub category.

This is good news for the 800,000 flexible workers in the construction sector, who remain a vital resource for firms across the country, as they will be able to take on more new contracts and projects.

A recent report from IPSE called “The Economic Role of Freelance Workers in the Construction Industry” highlighted the key role that self-employed workers play in getting many jobs off the ground as their skills can be sourced at short notice, which is ideal for the early stages of projects.

The author of the report, Professor Andrew Burke, said: “If the project proves to be unviable then the use of staged finance minimises financial loss and increases the ability to embark on alternative ventures.”

Contractors working in commercial building, housing and civil engineering are the most likely to benefit from the latest growth as the number of new projects increased significantly in these areas. The whole industry was also boosted by contract wins from public and private sector clients.

David Noble, Chartered Institute of Procurement and Supply group chief executive officer, added: “With sustained growth now for two-and-a-half years, respondents reported more confidence in the sector and from clients, and an expectation of an even stronger performance next year.”

Source: Colin Howell, Atlantic Umbrella

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Colin Howell

Atlantic Umbrella provides flexible workers a contracting platform in a compliant and efficient manner. As a member of Professional Passport our processes have been independently audited to ensure agencies and end clients have the comfort that all is as it should be.

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