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Construction SME owners welcome new entrants

Close Brothers Business Barometer

Over half (54%) of construction firm owners would recommend starting a business to someone they know, according to the Close Brothers Business Barometer, a quarterly survey of UK SME owners and senior management across a range of sectors and regions.

While the remaining 46% of respondents answered ‘no’ to the question ‘would you recommend starting your own business to someone you know?’, the sector results track very closely those of the national sentiment (yes 53%; no 47%).

When asked the question ‘do you feel the UK encourages entrepreneurs?’, 49% of Construction firm owners answered ‘no’, compared to the national average of 42%.

“Taking the step of starting your own business can be a very daunting one,” said Steve Gee, Managing Director of the Industrial Equipment Division at Close Brothers Asset Finance. “But for many people it can be the most rewarding decision they ever make.

“31% of construction firm owners feel that in the UK it’s a relatively simple process to start a business, but nearly the same again (29%) feel that it’s difficult to get a business off the ground, which shows that it’s a very mixed picture out there for SMEs.

“What the results tell us is that it’s a very personal decision and not necessarily for everyone, but that for those who do succeed, it’s very rewarding.

“From a sector perspective, what is encouraging is that recent Markit research confirmed that the UK saw business activity rebound and enjoy the strongest expansion for five months, with the construction, manufacturing and engineering sectors leading the way.”