Poll reveals 22% of consultants believe construction will be in top three sectors worst affected, while just 10% thought UK firms were well positioned

Construction is likely to be amongst the top three sectors worst affected by the recession, a poll of business consultants has found.

The survey of 70 members of the Institute for Turnaround (IFT) found 22% thought the industry would be among the sectors worst hit by the slowdown. This is up from 2% in 2008.

Only 10% of the institute's members, who overhaul struggling companies, thought UK firms were well positioned to deal with the economic downturn, up from 4% last year. The respondents thought businesses in London would be hardest hit, followed by the Midlands, the south-east and the north-east.

John Jenkins, chief executive of GE Commercial Finance's business finance unit, which conducted the poll, said businesses could borrow against assets to improve their cash flow. He said: "Releasing cash tied up in assets such as invoices, inventory, plant and machinery can often provide businesses with the headroom they need to stay afloat, if not expand.鈥�

Christine Elliott, the IFT chief executive, said businesses should cut costs and monitor cash flow.

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