Glenigan, a leader in UK construction market analysis and forecasting, has reported that new project starts for the three months to May, 2016 are 5% down on a year ago as referendum uncertainty creeps in.
Glenigan also suggests that developers are now delaying their commitment to new projects starts until after the EU referendum.
You can see the report at Glenigan – Project starts dip
Estate agents are also reporting that people are holding back buying and selling houses until they know the result of the referendum.
Whatever business sector we are in, referendum uncertainty, may be giving us an uncomfortable ride at the moment. Consultants and freelancers may be finding it harder to get new projects and existing ones may well be on hold until after the 23 June, EU referendum.
Whether the vote goes in favour of remaining in the EU or leaving, things can’t improve until after 23 June.
If we remain in the EU, things may settle down fairly quickly as we may be able to continue as we did before.
On the other hand, if we vote to leave, there may be a further two years of uncertainty whilst we withdraw from the EU and trade deals are negotiated between the UK, Europe and the rest of the world.
To help get through this rocky period, it is probably a good time to look at trimming any excess fat from our overheads and concentrate on efficiencies and effective marketing so that we keep ahead of the pack to win work.
The businesses that survived the 2008 economic crisis are the ones that tightened their belts but continued to market themselves to win what work there was to be had.