Build July (2016)

Build Magazine 7 The TenderSpace Press Office can assist with: - • Free media trial of the site • Interviews with Founders/wider team • Photography • Additional industry statistics • Case studies • Ongoing news about the business It connects clients, contractors, professionals and suppliers via a unique ToolBox function - which has been developed in conjunction with experts from the sector. The ToolBox provides a large suite of mostly free tools which allow people to efficiently connect, analyse and manage the complex workflows and processes involved in construction related projects. The Company was formed in 2015 based upon a concept conceived by its founder David Stapleton in 2012 - that many of the processes inherent in the property and construction industries can be simplified and improved upon. For property owners, occupiers and their advisors, TenderSpace’s free tools help the user to find the right resources for projects large or small. For contractors, suppliers, specialists, trades and professionals wishing to source new work opportunities, TenderSpace offers Work Finder, which can be unlocked via a low cost subscription. This service allows subscribers to directly pitch for jobs before competitors get to hear about them, and to source quotes and products. All registered users can also enjoy free use of Profile Builder – an intuitive and simplified version of the industry standard PAS91 Pre- Qualification Questionnaire. Speaking about the development of TenderSpace, co- founder David Stapleton commented; “The similarities between developing this platform and undertaking a property development project are striking – both involve design, architecture and engineering. I began with an idea on a scrap of paper, and then interrogated the efficacy of that idea and the potential market demand. Having convinced myself and our backers that the idea had merit I moved into a design stage – where it’s crucial to both get the specification right, and to assemble the best team. As in property development, specification does not always go entirely according to plan, but provided that the foundations have been adequately designed then re–engineering is always possible. And once you’ve selected the best team, you end up with a powerful and intuitive platform - like TenderSpace. Where the similarities with property development end is that TenderSpace will never be ‘finished’ – the next tranche of developments and enhancements is already underway, and we’re looking forward to feedback from our users to hone the offer further.” UK Property and Construction - Key Facts • The UK construction industry comprises more than 280,000 businesses covering more than 2.93 million jobs, which is the equivalent to about 10% of total UK employment [Source: HM Government] • The industry contributes about £90 billion to the UK economy annually, equivalent to nearly 7% of GDP [Source: HM Government] • The UK self build market ranges between 10-15,000 projects per annum, representing only about 5% of annual house building in the UK. This compares unfavorably to other European countries, where the self build market represents closer to 10% of annual house building [Source: Homes & Communities Agency, 2015 Policy paper] • It is estimated that the UK needs to build as many as 300,000 new homes each year to meet demand [Source: Homes & Communities TenderSpace, Launched in January 2016, is a New and Unique Suite of Web Based Tools for Everyone Involved in Property or Construction and Related Business Agency, 2015 Policy paper] • In 2014 construction costs rose by 6%, and are predicted to continue rising [Source: RICS, BCIS Construction Briefing, 2015] • The National Specialist Contractors Council, which represented over 7,000 SMEs in the construction sector, reported some of their members completing over 100 prequalification questionnaires (PQQs) per year, each requesting essentially the same information [Source: National Specialist Constructors Council, now part of Build UK] • A Specialist Engineering Contractors’ (SEC) Group survey of over 600 member companies found that, on average, each company paid to belong to 2.3 subscription services to source new business opportunities. This increased to up to 20 for larger companies. The level of subscriptions varied from less than £200 to many thousand pounds, with the average being £1,500. They concluded that subscriptions alone for their members were costing around £10 million, with administrative costs averaging £4,000 per company. Total expenditure on subscription based services for SEC members was in the region of £28 million for SEC members. [Source: SEC Group]