Accountants Grant Thornton found that more than 90% of construction leaders filling in its survey were confident that exisiting business models would see them succeed over the next 18 months.

But many still plan to revise their target markets and cost structure, despite feeling their business approach does not need to be altered.

Kathryn Hiddleston, head of construction at Grant Thornton, said: “While corporate leaders may not feel their business models need to be overhauled, most plan to make significant changes such as adjusting their cost structure, focusing on new target markets and expanding  into overseas markets.

The survey found that 62% of construction bosses plan to make significant changes to target markets, 52% to their cost structure and 25% to their supply chain.

“Constructors are only just starting to think about where they go from here after two years of focusing on survival,” she added.

“Many constructors are increasingly experimenting with the model of partnering with local government authorities that already have land for development of major social housing projects as they seek to reduce costs and increase their build volumes.”

The report also points to hopefulness regarding the state of demand for construction products and services.

Nearly half of those surveyed expected to see ‘full economic recovery’ in their industry within the year, with 70% confident that construction will recover within 18 months.