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We're on the up

construction

Britain's construction sector is booming, with more than 15,000 new building companies set up last year, according to credit-monitoring group Creditsafe. Office for National Statistics figures also showed that the sector grew by 7.4% last year, the fastest rate since 2010. The number of businesses operating in the sector also increased by 5.6% to 214,521. A total of 15,805 were start-ups. Creditsafe also said the credit-worthiness of construction firms is improving after a rollercoaster period following the financial crisis. Just 5% were in the highest risk category at the end of 2014, compared with 11% at the start of the year. The proportion of businesses in the sector sitting in the lowest risk band increased from 13% in 2013 to 23% by the end of last year. The figures come after a number of housebuilders reported strong results. Unemployment figures also show that labourers, drivers and tradesmen in the sector are leading the way in finding jobs.

 

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