After riding out the first national lockdown caused by coronavirus, construction firms now face new uncertainties. Although the sector has so far shown resilience and is deemed central to this Government’s economic recovery plan, there is a perfect storm on the horizon of uncertain long-term pipelines, supply chain disruption and uncertainty caused by a lack of clarity on trade with the EU from 1 January.
Business models that used to work well will soon encounter challenges as shareholder pressures, ever-more demanding customers and increasing international competition lead to new tensions.
In an uncertain world, vigilance is key. The sector must be ready for challenges or face decline. To remain fit for the future, businesses need to innovate, streamline processes, harness technology and attract skilled workers. Strategies must adapt.
Are you ready to do things differently?
Construction businesses importing materials from the EU post-Brexit have seen significant disruption. Find out how to prioritise supply chain management.
