IF FIGURES are to be believed, the UK’s construction sector is bouncing back, as last month’s Purchasing Manager’s Index (PMI) revealed activity jumped to 53.7 in January from 49.1 in December.

Now, it’s unlikely the monthly snapshot will provide an immediate boost, as it was only last month that the 0.5% economic contraction triggered fears the industry would keep declining.

So far, and said with everything crossed, Nobles has managed to weather the storm that has wounded many firms, some fatally.

We have achieved year-on-year growth for the last five years and we’re on track to increase turnover by 10%in 2011.

Make no mistake, it’s an absolute battle and the competition levels are enormous.

On occasion, we have found ourselves up against 70 other bids, and we’re converting one in eight, whereas before the recession hit home, it was more like two in five.

This has forced us to increase our pipeline of opportunities by a considerable amount.

Not having any bank borrowings and avoiding the madness of cut-throat bidding has stood us in good stead.

Today, with spending cuts in full throttle, more and more projects are being awarded to the lowest bidder and you are seeing firms up and down the country struggle because of poor pricing at tender stage.

More often than not, excruciating financial pressures are placed on contractors, forcing corners to be cut and ultimately jobs not being finished. It is then the client who loses out.

It’s a long, slow, grind, but it’s not all bad out there.

There’s always construction work going on and businesses that are well-positioned to seek out and respond to relevant opportunities across a range of sectors will continue to secure work.

In these testing times, taking work at any price might be tempting, but it’s also a risky solution.

As the latest PMI figures show, there are signs of recovery and there’s no need to panic.

It’s about holding your nerve and being careful about how you price your work.

For the decisions made today will need to be paid for tomorrow.