• Text size      
  • Send this article to a friend
  • Print this article

Building firms urged to be careful

SMALL building firms in Scotland have been urged not to overstretch themselves despite improving conditions and growing confidence in the property sector.

Accountancy firm Grant Thornton said there are fears smaller construction businesses could be tempted to take on too much risk.

The area of tendering was highlighted as one where in the past small companies have suffered by trying to bid too low in order to secure work and finding out they could not carry out contracts profitably.

Lorraine Macphail, head of property and construction Scotland at Grant Thornton UK, said: "Firms should learn lessons from those difficult years and plan for more strategic, sustainable growth as market conditions gradually improve."

Contextual targeting label: 
Business

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

214953