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Business Confidence Rises In Architecture, Engineering & Building Sector

Hard hat and DIY construction tools shutterstock_273322682 725 x 500
  • Nexus Global reveals that business confidence in the architecture, engineering and building sector has risen by 122% since last year.

  • UK architecture, engineering and building businesses are most assured about the happiness of employees yet least assured about hiring new employees.

Over the past year the pandemic has thrown drastic obstacles in the way for UK businesses, but with many businesses opening their doors after months of having to close, paints a more positive picture for businesses than ever. 

Nexus Global surveyed senior managers in architecture, engineering and building businesses across the UK to determine how confident they feel at present regarding the current economic climate. According to the findings, business confidence levels in the architecture, engineering and building sector have risen by 22% since last year. With retail businesses are  most assured about the happiness of employees yet least assured about hiring new employees.

To determine the figures, respondents were asked (on a scale of 1-10) how confident they feel at present regarding the following aspects:

Aspect

Business Confidence Score (2020)

Current Business Current Score (2021)

Overall health of the business

5.5

6.0

Happiness of employees

5.2

6.4

Expectation of next year's revenue to increase

5.19

6.1

Industry demand

5.13

6.1

Not having to make redundancies

5.29

6.1

Business competition 

5.21

6.0

Industry growth

4.76

5.9

Expansion of products / services

5.0

6.0

Launching new products / services

4.92

5.8

Positive cash flow situation

5.05

6.3

Business growth

4.88

6.0

Investing in areas of business

4.66

6.2

Increase in sales / clients

4.88

5.6

Increase financial investments

4.76

6.0

Overall health of the local economy

4.45

5.6

Hiring new employees

4.49

5.4

Increase wages across the business

4.45

5.6

 Giving bonuses to employees

4.03

5.8

Overall health of the country's economy

4.22

5.5

Total Score:

92.23

112.4

Commenting on the report findings, John Westwood, Managing Director, says: “A rise in confidence levels among UK architecture, engineering and building businesses is an encouraging sign and paints a much more positive forecast for the future after such an unsettling and turbulent period over the past 12 months. 

Looking forward, business confidence levels will be a key factor to influence the pace of consumer spending once lockdown measures ease. This change in behaviour will need to see businesses adapt if they stand a chance of seeing growth.”

For more information follow the link to click through to individual sectors to discover more in-depth information on the current climate and future predictions. https://www.nexus-global.net/business-confidence-report/

Source : Nexus Global

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21 April 2021

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