September 12, 2020

Succeeding With Your Construction Company

Construction is generally a good industry to get into, for the simple fact that it is always going to be needed in some way or another. If you are running a construction company and you are wondering what you might need to do to see it become successful, there are

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Issue 322 : Nov 2024

September 12, 2020

Top 50 Contractor League Table – UK Construction Contractors Cash in on New Opportunities

Costain Group took this month’s top spot in the contractor league tables after being appointed the contractor for two major road projects. A new SMART motorway on the M62 at Brighouse and widening works on the A1 in Newcastle- upon-Tyne with a combined value of £575 million. In the runners up spot this month is Bowmer & Kirkland with eight awards totalling £138 million. A new primary and secondary academy in Enfield provided £45 million of the total. The scheme is part of the Government Free School Initiative and will provide education facilities for over 2,000 children. The latest edition of the Top 50 League Tables published by industry analysts  Barbour ABI, highlights the number and value of construction contracts awarded during August. This month shows that the combined value of contracts awarded to the Top 50 was just over £2.6 billion with a total of 130 projects. For August, Kier Construction were the busiest contractor with a total of 14 contract awards at a combined value of £108 million. BAM Construction sit at the top of the rolling 12-month league table with 51 projects at a total value of £1.9 billion. Tom Hall, Chief Economist at Barbour ABI & AMA Research said, “The value of contracts picked up by top contractors fell back in August to £2.6bn from £3.9bn in July. This fits with our expectation of subdued activity due to the uncertainty caused by the possibilities of subsequent outbreaks of Covid-19, a disruptive Brexit and a wider economic slowdown. However, the construction market is retaining some momentum after the slump during lockdown, and there are new projects coming through, although at lower levels compared to before Coronavirus.” Download the full report here:  https://ubm.io/2WBolhM

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Succeeding With Your Construction Company

Construction is generally a good industry to get into, for the simple fact that it is always going to be needed in some way or another. If you are running a construction company and you are wondering what you might need to do to see it become successful, there are some tried and tested methods that you might want to look into. In this post, we are going to take a look at a number of them, so that you can ensure you are always moving in the right direction. Let’s take a look at what those are now. Find A Niche As with any other kind of business, you are going to have much more success in construction if you manage to find a niche of some kind. That could mean that you specialise in building a certain type of building, or that you cater to a particular industry or sub-industry. There are also many different areas of contracting to look into here. As long as you have a niche, you are going to get a lot more custom, and things are going to generally look up for your business. Market It Well You have to make sure that you are marketing the business, or else you can’t expect it to have the kind of success that you might be dreaming of. This marketing is something that is not always going to come easily, but it is something you can improve upon just by getting the right help for it. By outsourcing to a team like Smarter Digital Marketing, you can ensure that your business is going to be in a much better position, and that could mean great things in the long run. If nothing else, it will mean that you are going to have a bigger pool of clients to choose from. Plan & Plan More The more that you actually plan for the future of your construction business, the more likely it is that it will get somewhere good. If you don’t have much of a plan, but you are simply following your nose the whole time, you are less likely to end up somewhere important. So you should start thinking about this as soon as possible. It really does make a huge difference, and it means that you can start taking responsibility for the business and really leading it where you want it to go. CashflowAs ever, the cashflow is important in ensuring your business stays healthy. You need to look into ways to minimize losses and improve gains and generally widen that profit margin, and if you can’t do that then you are going to find it a real challenge to lead your business to succeed in the long run. Be sure you are not wasting money anywhere, however, and things are going to look much more promising indeed. This is probably the single most important thing that you need to make sure you are doing.

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