Despite the recession and economic downturn that has plagued companies for the past few years, the professional cleaning industry has a positive outlook for the upcoming year.
A new report published by MTW Research on the contract cleaning industry explains how the sector is in line for above inflation growth from the middle of 2012.
A number of factors within the market have led to this prediction including just less than 60% of contractors having grown sales in the last 12 months and 90% of the industry having a healthy credit rating in September 2011.
While the negative impact of the economic downturn has affected the amount of investment professional cleaning providers have spent on equipment and materials in the past few years, the report concludes that contract cleaners will be spending more on such items over the next two years.
The report found that the cleaning industry is dominated by companies that are more than 11 years old. However, 26 per cent of the sector is made up of companies with less than seven years of trading experience.
It is these companies that are the most vulnerable due to a combination of low profitability in the sector, a relative lack of liquidity and the current lack of credit available.
Despite these negatives, the report predicts a positive future for professional cleaning. It said that there are healthy prospects for the majority of contractors who are willing to add to their services by offering something a little different to the market.