Bibby Financial Services has published the results of their October 2014 construction sector research which has some interesting findings. The study encompassed 200 small construction businesses.
The key highlights were:
- The average amount of pipeline work was 17 weeks.
- 49% had more work in Q4 2014 than in the same period in 2013.
- Late payments were the biggest challenge facing them.
- Over 70% had written off money as bad debts over the last 3 years.
The survey results suggest that the construction sector is doing better than in 2013 although the large number writing off bad debts seems very high and concerning.