Boom in construction company start ups

Britons’ distraction with the property market has spilled over into the construction business, as an increasing number of people start their own ventures into the housing world, according to figures from Barclays bank

The bank explained all other business sectors have seen the number of start-ups drop, on average 12 per cent lower in the last three months of 2007 than the same time last year. This compares with an overall rise of six per cent for construction firms.

Around 17,500 construction businesses were set up in the last three months, compared with the average quarterly figure of 13,200 for 2003 to 2006.

The largest rises in new construction start-ups has been in London, where there has been 29 per cent increase, followed by Wales (13 per cent), the south-east (12 per cent), compared with the same time last year.

"The British public have always been big DIYers with a record £10.7 billion spent last year, but now many of these same people are taking that interest and turning it into a business, whether they are plasterers or property developers," commented John Davis, marketing director for local business at Barclays.

"There doesn't seem to be any let up in our national property obsession and with getting up the property ladder continuing to be our number one collective goal in life, it doesn’t seem likely that there will be a shortage of construction entrepreneurs in the future."