The vote for Britain to leave the European Union (EU) and subsequent resignation of the Prime Minister, David Cameron, has left Britain’s construction industry in a state of uncertainty. Operating in the global construction arena with a strong foothold in the UK market, software house Union Square remains committed to investing in the construction industry.
Richard Vincent, Managing Director at Union Square said: “Regardless of whether the vote had swung to leave or remain, Union Square was always committed to serving the global construction sector. We are financially strong and our plans to further develop our products and services remain unchanged despite today’s events.”
Prior to the referendum there was much conjecture regarding how the construction industry would be affected if Britain voted to leave the EU. Amongst the speculation and media hype it has been reported that consultants and contractors will experience skills shortages as the UK has been reliant on skilled EU labour, access to EU contracts may be halted and that material prices may be impacted as the value of the pound falls.
Richard continued: “It is difficult to predict exactly what factors will impact the construction industry but the most important thing at a time like this is to remain calm and considered. Our software offers huge value when managing project information and business processes and we help architects, engineers, construction consultants and contractors to automate processes, maximise efficiency and increase profitability. Ultimately we help them to do more with the same resource, which will be even more important if Britain’s construction industry does experience skills or pricing issues.”
It is expected to take over two years for Britain to extricate itself from Europe. In the immediate term little will change as Article 50 of the Treaty of Lisbon, which instigates exit negotiations, will not be activated until a new Prime Minister is in place.