The Construction Plant-hire Association (CPA) have published their Spring Survey.
As the first survey of its kind for the UK plant-hire sector, it provides valuable insight into the key issues affecting CPA member companies across the industry.
Covering everything from economic conditions and current trading environments to the impact of government policy, the survey highlights how members are navigating today’s business landscape and where change is needed.
Key findings from the survey include:
- National Insurance contributions have had a real and lasting impact on plant-hire businesses – 66% said it had a negative impact.
- Higher employment costs have changed hiring plans – 46% are reducing hiring, 26% have a hiring freeze.
- Thirty-five percent of respondents cite tax changes as having a significant impact on their investment confidence.
- National Insurance contributions, wage increases and energy costs are the top three pressures facing plant-hire companies.
- The business outlook compared to twelve months ago is weaker or significantly weaker for 48% of businesses.
- For the next twelve months, 42% are pessimistic on the wider business outlook, against 30% who are positive.
- Business growth is an issue. Thirty percent expect their business to shrink, against 18% who expect it to grow.
- Over 80% of hire companies feel that government policy does not adequately support the sector’s move towards net zero, with the remaining 20% unsure.
Download the CPA's Spring Survey.