WHILE the construction industry as a whole is continuing to face some tough challenges, research by insolvency trade body R3 shows that the sector is performing relatively strongly in Yorkshire.
It reveals that of the region’s 18,934 active construction businesses only 4,979, or 26.3 per cent, were identified as being at higher than normal risk of insolvency in October, compared with an average of 27.9 per cent across the UK.
Adrian Berry, chair of R3 in Yorkshire and restructuring partner at Deloitte LLP, said: “Post-EU referendum, the construction sector seems to be defying the worst fears, buoyed by the resilience of the housing market with confidence further boosted by the announcement at the recent Conservative party conference of £5 billion of funding for housebuilding.
“Construction has a knock-on effect on so many other sectors that it always bodes well for the health of the economy overall when it is growing.”
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