The latest research by the Electrical Contractors’ Association has shown building services contractors ended the year with an increase in business, with eight out of ten firms enjoying increased or steady turnover, particularly in Q4 of 2015.
The survey targeted almost 3,000 members of the eCA operating across the building services, electrical and electrotechnical sectors, and aimed to provide a comprehensive analysis of the prevailing business environment across the industry and to show market trends.
The results of the ECA’s Building Engineering Business Survey highlighted that the industry’s smaller and major players were the strongest players last year, with 2 in 3 small businesses reporting an increase in turnover of 29% on the previous quarter, and 7 in 10 large firms reporting a 70% increase in turnover on the previous quarter. Medium businesses didn’t fare too badly either, with 6 in 10 firms reporting a steady turnover, with 21% reporting an increase.
Steve Bratt, ECA’s CEO, said: “The ECA’s Building Engineering Business Survey indicates that electrical and building services firms are doing more business, with the biggest increase in turnover seen among small and very large companies.
“However, we believe it is unacceptable that payment continues to be a major concern to contractors across the industry, with the overwhelming majority indicating that they are not paid within 30 days, which is now the widely understood measure of good practice.”
According to the survey, the areas which enjoyed the most growth were fire and security, datacomms systems, audio visual systems and building energy management.
The outlook for the current quarter is still positive with contractors confident in the future stability of their business and the industry as a whole. 8 out of 10 respondents expect their turnover to either increase of stay the same during this quarter.
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