OUTLOOK FOR CONSTRUCTION CONTRACTING IN 2020

2019 was certainly a turbulent year for the construction industry, with business booming in many areas but significant challenges across parts of the sector.

The New Year hopefully brings a sense of ‘cautious optimism’ for construction contractors now that the General Election is over and there is (a little) more certainty over Brexit.  Another positive was the announcement in early January by Chancellor Sajid Javid of an ‘infrastructure revolution’ in advance of his Budget, set for March 11th.

Although details are sparse, this could be good news for construction workers across the country. According to a report by the BBC, ‘the so-called “Green Book”, used to evaluate big investment projects, could be changed to rectify a formula and a process that biases government investment to where economic growth, high productivity, and high house prices are already concentrated – in and around London.’

The industry has a positive future, according to construction industry commentators Glenigan, who say construction prospects are set to brighten during 2020 and 21 with project starts forecast to rise by 2% in 2020 and 5% in 2021.  Glenigan puts the upward momentum down to a rise in private housing, affordable housing, education, health, and civil engineering projects whilst industrial and commercial sector projects could decline as a result of the post-Brexit outlook.

Of course, only time will tell how the construction industry fares in 2020.  Whatever happens, we are here to provide support to ensure you are set up and able to work whenever you wish.

If you are a contractor in the construction industry, you can come to us for help with any aspect of CIS, limited company or Umbrella contracting.  We are experts in the industry and have supported construction contractors for two decades. Please get in touch to find out more.