The Construction Sector
Avid Partners provides accounting services for clients operating in the building trade, the construction services sector, trade organisations and sub-contractors. We have worked with companies to help them restore their credibility in their industry and to help them grow their businesses again after years of austerity and cost cutting. Avid Partners works closely with our construction related clients to re-instil best accounting business practices into their companies and help create a roadmap for future growth now that the clouds in their industry are starting to clear.
Arguably there was no other industry in Ireland more effected by the downturn and reduction in demand of the previous five years than the construction sector. We all remember the daily reports of job losses, uncompleted projects grinding to a halt, lack of liquidity and investment, inflated costs and prices, as well as the never ending bad publicity of practices in the industry which gave the sector a black eye it is only now recovering from. In recent times however the long heralded green shoots finally seem to be sprouting.
Despite the new found optimism in the industry there are still significant challenges facing the sector as it strides to recover from the losses of 2008-2012. These include:
- Legacy issues of indebtedness and loss of credibility which must be regained
- Lack of capital available to the construction industry
- The emergence of a black economy in certain trades and practices in the industry
- NAMA and its on-going influence on the construction sector
- The continued depression of the civil engineering and infrastructure subsectors
The PMI Index has shown consecutive monthly growth since the start of 2014
- Commercial property activity has increased with many foreign funds now beginning to re-enter the Irish market through acquisitions
- Residential property prices in parts of Dublin have increased in the latter part of 2013 and early 2014
- Employment in the construction sector has risen above 100,000 for the first time in many years
- Many commentators suggest that 2014 will mark a return to growth for the construction industry as a whole, the first such increase since 2007
Contact Avid Partners today on 01 4286900 to see how we can assist you with accounting for your construction business. Download our article on your area, book a place on our next industry seminar and make an appointment today to chat about your business with one of our expert Avid Partner staff.
Avid Partners can provide you with a full range of accounting services to cater for your company’s needs. Whether you require services to assist in compliance or day to day book-keeping services we have the best people on hand to help you. We can also assist with more complex accounting services and help you […]
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