Construction Sentiment Improving In 2020
Sentiment within the construction sector is a lot more optimistic following the general election and clearer Brexit outcome.
Almost half (43%) of all respondents in the construction sector now feel as though their business will grow in 2020, according to communication firm Huthwaite.
A fifth (22%) of respondents viewed the Brexit outcome as having little impact on their business.
Furthermore, over a quarter feel as though the definitive exit from Europe at the end of January is actually benefiting the construction sector with confidence returning.
However, experts have claimed that changes to import and export legislation could lead to rising material costs and a restriction in skilled labour. Construction firms will therefore need to exert more energy and time in negotiating prices in the future to maintain positive trends.
Tony Hughes, chief executive at Huthwaite International said:
“The UK is packed with ambitious and prosperous companies that in theory should flourish regardless of economic uncertainty, however the importance of obtaining the core skillsets to flourish shouldn’t be underestimated.
“One of the few certainties the UK faces is that, for selling organisations, things are getting tougher.
“As buying organisations entrench, delaying or even cancelling purchasing decisions, sales teams across all sectors and markets are having to up their game.
“This means sophisticated negotiation skills aren’t just important to ensure the UK secures a quality deal with the EU, but also form the fundamentals for ensuring business success across the UK too.”