Five years on from the “Great Panic” you are still hard pushed to get through the financial pages of a quality newspaper without reading an article reflecting on the difficulties businesses are still facing in sourcing suitable finance; with many companies – despite having full order books – still failing for lack of liquidity.
As the acclaimed American investment guru, Warren Buffet famously referred to the situation: “It’s only when the tide goes out that you find out who isn’t wearing a swimming costume”.
In the UK construction industry it has been like watching the survivors of a ship wreck drowning within sight of the beach, as both big contractors and our smaller competitors have gone under.
At Plastic Surgeon we take comfort from the fact we have actually managed to grow not just our market share, but our turnover during the worst recession in living memory, based not just on our superior skill set, but our firm financial foundations. We are a well capitalized company, enjoying the backing of a major financial institution, well known in the City for its involvement with the construction industry.
Then in addition to our reputation as a knowledge leader with strong technical back up, we have also worked very hard over the past decade or more on ensuring our management processes are sound. Investment in software such as that which interfaces the Finishers’ hand-held computers with the invoicing system has been instrumental in optimizing cash flow.
These resources have allowed the company to continue investing in researching new repair techniques and related equipment which, in turn, have enabled us to diversify into new sectors during the downturn: including social housing maintenance, facilities management and even working with the world’s biggest cruise line companies.
We are now seeing activity growing again across most sectors of the construction industry: generating a demand for flexible and dependable services from a supply chain which has suffered greatly since 2008. It is only companies such as Plastic Surgeon, that have proved themselves to be financially astute and stable, which will be able to cope and prosper.