It’s Wise Up Wednesday: Banks Have Cut Lending To Contractors!
It’s Wise Up Wednesday
Banks Have Cut Lending To Contractors!
Banks have been steadily cutting lending to construction companies over the last six months.
Latest figures from the Bank of England show that lending from banks to firms in key sub-sectors, including house building, commercial construction and civil engineering has recorded the longest period of decline since 2011.
Mark Farmer, CEO at Cast and author of a government commissioned review of the construction industry, said:
“The six consecutive months of decline in lending by banks to the construction industry adds more uncertainty to the sector’s ability to innovate.
“With Tier 1 contractors facing cash flow problems as we’ve seen in Carillion’s case, restricted finance puts pressure on an outdated delivery model built on so many layers of passing down risk and accountability.
“Together with recent warnings from the Bank of England of a drop in house prices post-Brexit, the construction sector faces difficult challenges.”
If Contractors are short of cash you can rest assured that it will mean that they will squeeze their payments to you their Subcontractors!
You need to be ready to protect your business from the nightmare of non-payment and reduced payment.
We already know that many Contractors will try every trick in the book not to pay, or to pay late, or to knock your payment.
You need to be ready to defend your cash flow.
Protect Your Business
If you want to know more, our courses provide a practical no-nonsense approach to learning all the basic principles that can easily be understood and used for the benefit of your business on a day to day basis.
I have been successfully presenting courses for Specialist Sub-Contractors for 22 years and our Consultants have practised what we preach, because in that time our experts including me, have recovered literally millions of pounds on behalf of Specialist Subcontractors using simple techniques that you can easily learn.
“Understand Your Contract to Minimise Risk and Maximise Profit”
“Introduction To Contractual Awareness and Using JCT Subcontracts”
WHEN/WHERE IS IT? The dates and fast access venues are as follows;
30 October – Village Hotel Liverpool Close to M62 and M57
31 October – Village Hotel Manchester Bury Close to M56 and M62
13 November – Village Hotel Newcastle Close to A! and A19
14 November – Village Hotel Leeds North Close to A1 and M62
Don’t see a date/location that suits? Contact us for future dates.
Here’s what your fellow Subcontractors said about our last event;
“Easily digestible information delivered in an interesting and easy to understand format”
“Very detailed and informative”
“Very informative and well delivered”
“We were struggling to get paid; not any longer!”
Session 1 – Contract Formation
Session 2 – Introduction to JCT Contracts and Construction Act
Session 3 – Time, Notices and Delay and Disruption
Session 4 – Instructions, Variations and Maximising Return
Session 5 – Getting Paid On Time and the Right Amount
Session 6 – Resolving Conflicts and Disputes
Session 7 – Putting It All Together
WHO SHOULD ATTEND?
Our events are exclusively for Specialist Contractors so you are in the friendly company of other Specialist Contractors, and everything is designed to provide a broad appeal for all Specialist Contractors staff including;
Estimators, Contracts Managers; Project Managers; Commercial Managers, Quantity Surveyors, Credit Controllers and Directors
WHAT WILL WE GET OUT OF IT?
The Secrets To Getting Paid and Minimising Risk and Maximising Profit!
Specialist Contractors don’t get paid because they don’t understand the contract or don’t apply it when they should. We will reveal all you need to know to enable you to understand the fundamentals of those subcontracts, and how to get paid.
WHAT DOES IT COST?
The value of this whole days training is £350 + VAT, however, you can get your Early Bird booking discount and enjoy the reduced rates as follows;
- 10% discount when you book one place
- 20 % discount when you book 2 or more places
- And if you are a member and StreetwiseSubbie Buddy (or join us now), you are eligible for even more heavily discounted preferential rates.
All rates are subject to VAT
Booking couldn’t be simpler, just contact Jo or Tanya directly on 01773 712116 or email email@example.com to confirm your places.
But hurry our last round of seminars sold out very quickly.
I hope you enjoyed my Wise Up Wednesday email and that it gave you some food for thought, and I sincerely hope to speak with you soon.
P.S.If you have a problem, or you’re not sure what to do, or just want a second opinion, please give us a call on 01773 712116, or email firstname.lastname@example.org