The construction industry faced a period of real uncertainty following the Brexit vote. This wasn’t helped by the fact that private sector investors were delaying investment decisions until the EU referendum results were in.

Now that the dust has settled, is the decision to leave the EU a blow to the industry or does the future look promising?

With the decision to leave the EU confirmed, it has been widely expected that investors will reappraise their industrial and commercial property development plans. However, the London commercial property market looks especially vulnerable as many financial institutions need to be located within the EU. In addition to this, the economic uncertainty is likely to slow down activity in the housing market as well as private house building activity over the coming months.

Earlier in the year we heard how India’s Tata Steel planned to sell its loss-making UK businesses, putting the jobs of thousands of workers at risk. There were also suggestions that other factors affecting the wider UK steel industry included relatively high energy prices and the extra cost of climate change prices. However, recently, there is better news on this front as Tata Steel has recently pledged to make a commitment to secure jobs and production at Port Talbot and other steelworks across the UK.

How to survive and prosper

Despite the difficult market conditions, if you or one of your clients are the owner of a construction company, it certainly doesn’t have to be doom and gloom. The decision to leave the EU could help boost opportunities in the hotel and leisure sector, especially over the short to medium term due to weaker exchange rates encouraging UK residents to holiday at home. This could also boost the tourism economy, attracting overseas tourists in the process as well.

By seeking the right advice promptly, you should avoid hitting a brick wall, and find a long-term solution for your business. At PCR, we can assist by:

  • Proposing funding options you may not previously have considered
  • Managing cash-flow in order to ease pressure
  • Assisting with financial forecasting and restructuring
  • Analysing the company structure and its viability

OFFER

At PCR we offer a free initial consultation and company health check. The health check will provide answers to SMEs and their owners as to the ability to continue to trade, their viability and also available options.

Accessing our offer

Simply telephone your nearest PCR office. Our telephone numbers and advisory team members can be found by visiting our website. You can also access and complete a contact form. Please quote CONSTRUCTION16 in your correspondence.

Once we are contacted, we will discuss your business with you in more detail and if appropriate arrange for one of our experienced qualified advisors to visit on a day that is convenient to you.

Our promise

Please note this service is free and confidential with no hidden costs or obligations.


Contact Information

Middlesex Office: St. Martin’s House, The Runway, South Ruislip, Middlesex, HA4 6SE
0208 841 5252

Bristol Office: Bush House, 77A Alma Road, Clifton, Bristol, BS8 2DP
0117 239 0343

London Office: 1-7 Harley Street, London, W1G 9QD
0207 291 4465

Milton Keynes Office: 2-14 Margaret Powell House, Midsummer Boulevard, Milton Keynes, MK9 3BN
01908 309 950

Newcastle Office: Suite 108, Collingwood Buildings, 38 Collingwood Street, Newcastle upon Tyne, NE1 1JF
0191 229 9656

Sussex Office: CPL House, Ivy Arch Road, Worthing, West Sussex, BN14 8BX
01903 366 020

Ask for your free health check using our priority contact form ››

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