Sector - Finance & Legislation
Constructing the Future – research launched
At this crucial moment for both politics and economics in the UK, Construction Excellence are pleased to announce the launch of our recent research piece: Constructing the Future – the challenges and opportunities for the construction sector.
Construction is a major contributor to the UK economy. The built environment influences every part of our lives and the sector holds the key to unlocking future potential. While some 6% of GDP comes directly from the sector, the UK government has acknowledged the significance of this industry through numerous policies and funding support.
With Brexit pressures squeezing the industry, together with a skills shortage that is widening across all disciplines, never has it been more important to understand what those within the industry are thinking.
The research piece was undertaken to take a temperature check on the industry, to see what the challenges are for the industry and how companies are dealing with them – as well as the opportunities for the future.
Our research project examined such key industry matters as the affect Brexit is having on the industry, the growing skills shortage, the housing crisis, and government policy, as well as the digitisation of the industry.
As an observer of the industry for over 20 years, Construction Excellence has a unique perspective as a commentator on the needs and challenges of the sector, learning through its community of actively engaged industry members.
2019 will see the UK at the crux of a new future, one that is – at the time of writing – still undecided, and how our industries deal with this will set out the future of the country and the strategy for construction going forward into the digitised age.
Every corner of the UK is touched by construction, and as we brave uncertain times, this crucial industry must go forward into the future with confidence.
Key findings from the report include:
- The future is bright! Some 60% of respondents are optimistic about the future of construction, showing that no matter the ups and downs – people still need builders and the building industry.
- Some 70% of our respondents are currently worried at the impact Brexit will have on the industry, with 68% saying Brexit will have the most impact on their business in the next 12 months. 90% agree construction has an image problem in attracting talent.
- 62% of respondents believe that government investment is driving infrastructure growth – mostly through the major, and more visible, projects such as Crossrail and HS2.
To read the full report click here.
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