Latest News Thu, Nov 7, 2024 7:03 AM
Small building companies are reporting falling workloads, material costs going up, and a shortage of available workers, according to the latest State of Trade Survey Q3 2024, from the Federation of Master Builders (FMB).
The FMB’s latest State of Trade Survey for Q3 20024 reveals a challenging economic climate for small building companies across the UK with 32% of FMB members reporting falling workloads over the past quarter.
Brian Berry, Chief Executive of the FMB commented: “Enquiries are also down, as is employment, with over a third of members struggling to recruit bricklayers and carpenters. What is concerning is that the poor numbers reported by builders seem to be here to stay as they have been a constant throughout 2024. The last time such a negative trend was reported was in the years following the financial crisis of 2008.
“The Government missed a key opportunity in the October Budget to announce serious funding to tackle the skills crisis in Britain while tax rises, such as the increase to employers’ National Insurance contributions, creates additional barriers with firms already struggling to recruit staff.
“The Government needs to prioritise boosting construction skills if it is serious about having a high-quality construction industry capable of delivering the ambitious housebuilding targets it has set out.”
The FMB State of Trade Survey for Q3 2024 found:
Market conditions
Skills
Changes in prices and costs
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