Is Construction Sector Facing a Late Payment Epidemic?

Is Construction Sector Facing a Late Payment Epidemic?

Caleb Storkey News

In the UK, currently some 30% of all late payments are in the construction sector. There is £30 billion owed in outstanding invoices to small and medium sized building firms. The National Federation of Builders (NFB) has recently raised this as an urgent, if persistent, issue. An earlier study from the Building.co.uk website recorded that up to 16% of small firms’ …

DEBT CLAIMS: HOW WILL NEW RULES AFFECT YOU?

Caleb Storkey News

Businesses typically may not be prepared for litigation or debt recovery, but new rules governing how debt claims can proceed against individuals may make a big difference to them, and to the resources they will need to make a claim in the first place. The new Pre-Action Protocol for Debt Claims came into effect on 1 October 2017 and means changes for …

NORTH WEST MANUFACTURING: IS BAD DEBT A BARRIER?

Caleb Storkey News

First the good news: manufacturing in the North West has been on the up. Figures in a report from EEF and BDO LLP suggest that the region is one of the best-performing for manufacturers. Manufacturing accounts for 15.5% of the region’s total output, the third highest in the UK. There are now 14,560 manufacturing firms in the North West employing …