FMB State of Trade survey

For more than 30 years, the FMB's State of Trade Survey has monitored key indicators and predicted future short-term developments in the UK construction industry. It is the only survey of its kind to focus exclusively on micro, small and medium-sized (SME) firms throughout the construction sector.  

The report's main findings are:

Market conditions

  • There has been a decrease in total workload, enquires and employment over Q4 of 2023, in all sectors being worked on by small builders, including repair, maintenance and improvement.
  • 47% of FMB members reported a decrease in enquiries.
  • Workloads were down 15% on Q3 2023 in the last quarter of year.

Skills

  • Overall, difficulty in recruitment has slightly decreased, however over a quarter of members report a decrease in employees.
  • 36% of members are struggling to hire carpenters with 34% struggling to hire bricklayers.
  • Around a quarter of members reported problems hiring general labourers.
  • Just under half of FMB members report that jobs are delayed because they are struggling to hire skilled workers.

Changes in prices and costs

  • 63% of members report that material costs increased in Q4 2023, down from 71% in Q3.
  • The impact of increased outgoings has led to 66% of members increasing the prices they charge, with just under half reporting that the business in on track to make a loss or fall below expected margins.
  • 1 in 5 report that they are restricting hiring new staff as a consequence of increased outgoings.

Download the report

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