Sharp rise in number of new construction companies

Grant Prior 3 years ago
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More construction firms are opening than closing for the first time since the financial crisis.

Latest figures from accounting specialist NoPalaver Group show a net increase in the number of new construction companies being set up.

There was a net gain of 5,445 construction businesses in 2013 compared to a net loss of 7,030 construction firms the year before.

In total, 38,335 new construction firms opened in the year to December 31st 2013 – 31% more than the previous year.

Graham Jenner, Director at NoPalaver, said: “These figures suggest that the construction industry has finally reached a tipping point in its fortunes, with the number of new businesses being created on the up and the number closing their doors going down.”

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