BDO, leading tax, audit and advisory firm, routinely releases surveys to help others keep up-to-date with key market insights. BDO’s annual Construction Survey is now soon to be released, after being pushed back due to the COVID-19 pandemic.
First established in 2018, the construction survey doubled in participants in 2019, and became recognised as an important resource for insight into the construction industry, containing detailed information on trends and issues.
In 2019, the survey revealed several issues, such as low margins and decreasing forward work. The survey also backed up evidence that the sector is divided into two tiers; more experienced operators with stronger businesses and management practices, and weaker businesses with lower margins, driven by newer, inexperienced operators. This second tier is a much more vulnerable group to the pressures of the industry.
The 2020 survey is different. It has been designed to focus more on the current shifts that industry leaders are more wary of. Due to the delay caused by COVID-19, the survey has been split in half. The first half focuses on the pre-lockdown industry and its projections, and the post-lockdown industry of now, and its future. This is to help calibrate the industry as it stands now against the expectations that industry experts had for the sector at the beginning of the year, allowing for comparisons.
BDO has stated, “we expect the findings will be very useful to participants in the industry and help you manage the risks and exploit the opportunities coming up in the next 12 months.”
The BDO construction report is being collated now. While you are not able to contribute to the study, you can still register to receive a copy of the report when it is released. Simply click the following link, and scroll down to fill in your details: https://www.bdo.nz/en-nz/construction-survey