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According to a recent report, the majority of construction firms, both in the UK and worldwide, are optimistic when it comes to the growth prospects of their industry.

Umbrella company contractors trading in the construction sector will be interested to know that KPMG’s Global Construction Survey 2013: Ready for the Next Big Wave, has found that a large number of firms are reporting increased order books and profit margins.

The report has also found that many construction companies are looking to expand into new regions or new sectors, such as power and energy.  Of those surveyed, 57% said that they expect their business to grow between one and 25% this year. 

The KPMG survey revealed that when questioned about their medium-term outlook, which is the next two to five years, 73% of UK companies said that they were ‘positive’ or ‘very positive’.

Richard Threlfall, UK Head of Infrastructure, Building and Construction at KPMG, said, “There has been a growing sense in the last couple of months that the worst is over and the results of our survey provide further evidence that construction activity is finally picking up. 

“Construction companies now need to invest in growth. What is holding back the industry now is not lack of demand, but the ability of businesses to resource for it and recruit sufficient experienced staff. 

“The next round in this highly competitive market will be won by those who have the resources to compete. Companies need to act now, because the industry’s resurgence is already underway.”

Simon Dolan is the Sales & Marketing Manager for Contractor Umbrella Ltd, one of the UK’s Most Respected Umbrella Companies and founder member of AllUmbrellaCompaniesAreEqual.
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