Mark Beirne of Cara EPS and director of Offsite Alliance wrote in PBC Today about the challenges facing the sector.
Amid economic uncertainty and global turmoil, offsite construction is seemingly facing a bleak outlook. However, Mark argues that the crises besetting the sector can also prove a tipping point to go mainstream
To say we are in uncertain times might be considered an understatement. With the UK still adjusting to a post-Brexit world, a once in a century event such as Covid, cost of living and fuel crises, labour and skills shortages, inflation at a 40-year high along with the highest interest rates in 15 years, impacts of climate change becoming more obvious each year and with at least high-profile two conflicts that are making the world seem a lot less secure, it could be said we are in unprecedented times.
What does all this mean for the offsite industry, a sector that historically gets hit first and hardest by recessions and downturns in the economy? Offsite manufacturers, with fixed assets such as factories and equipment, are particularly vulnerable to uncertain economic conditions.
On the surface at least, this might seem to be evidenced by some high-profile closures of a number of prominent offsite manufacturers.
However, this is not telling the full story - especially considering that offsite manufacturers represent only a fraction of insolvencies.
For the full story head over to page 140 of PBC Today - November edition and read Mark's article in full.