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Strong growth for construction SMEs

The SME construction sector achieved the highest growth levels for three and half years in the last quarter, according to the latest figures, published this week.

The SME construction sector achieved the highest growth levels for three and half years in the last quarter, according to the latest figures, published this week.

The PKF SME Index is a quarterly survey of 1,000 SMEs in manufacturing, construction and service sectors. Business activity saw the greatest increase, reaching the highest point for three and half years, while, says the report, “new orders were also robust, and construction companies recorded the highest levels of growth for new business out of all three of the survey sectors.”

Respondents told the survey that the granting of planning permission was a big factor in the growth and “a general increase in commercial activity was said to explain the growth in new business gained within the quarter.”

Commenting on the report’s findings, PKF partner for growing business, Start Barnsdall, said: The construction sector has had a particularly strong quarter and the figures of growth are encouraging. As with manufacturing, input prices are still on the rise as a result of the ever increasing costs of raw materials and it would be expected that the ongoing interest rate rises will hopefully tame these costs over the next year or two.”

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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