Many UK businesses have struggled to stay afloat in this Covid-19 world but, for some, the pandemic provides an opportunity to thrive.
Engineering has not been immune to the effects of the pandemic. According to The Engineer, at the height of lockdown, 24 per cent of businesses had paused or temporarily stopped trading.
However, demand for engineering services is on the up again as the country looks to rebuild and recover and this can only drive profitability up.
Although the engineering sector employs 19% of the UK workforce, there is still a shortage of engineers which has created a supply and demand issue.
Engineering companies are able to ‘name their price’ as a result, making them a much more attractive proposition for investors than has previously been the case in the past.
Megaprojects such as the Thames Tideway Tunnel, Hinkley Point B nuclear reactor and HS2 have played their part in changing the landscape but SMEs are benefitting, too, with more home-based orders coming in as confidence in the Far East supply chain recedes.
If you are considering selling an engineering business, please contact us for an informal discussion.