Budget Holds Few Surprises For Facilities Management Firms

Whilst there were no major surprises in George Osborne’s second budget, there could be one or two opportunities for facilities management companies to pick up work. That’s the conclusion of the Budget analysis concluded by FM World who believes that those companies creating facilities management jobs in the green sector could benefit from the increased investment into the so-called ‘Green Bank’.

Spending cuts could create facilities management jobs

With harsh spending cuts already announced, there could be a large outsourcing of public sector services to the private sector over forthcoming years. This could well be to the benefit of facilities management companies who can step in to take over these contracts.

The Chancellor’s announcement of an extra £100 million to repair potholes could help some facilities management companies whilst £200 million for regional rail projects could also help some firms. And, companies who provide training courses in facilities management jobs could benefit from the increased number of apprenticeships and training schemes that were announced in the Budget.

Green Bank also set to help facilities management firms

For those facilities management companies that operate in the renewable energy sector there was also some good news. The new ‘Green Bank’ will have £3 billion to invest from 2012 onwards in environmentally friendly projects whilst it will also be able to borrow money from the middle of the decade.

FM World concludes: “Overall, the majority of FM’s knew what they were getting into before the budget and little will have changed with its publication.”