#WiseUpWednesday: Subbies Are Losing £3bn A Year – That’s “B” for Billion!
Subbies Losing £3bn A Year! – That’s “B” for Billion!
The latest Subcontracting Growth report by Bibby found that Subbies are on the receiving end of deductions and disputes with main contractors costing as much as £3.1bn each year.
The report’s authors said; “The construction sector is characterised by high upfront costs and for this reason, unpaid work and debts that cannot be recovered are serious issues for both big and small firms.
“The issue is particularly problematic for smaller subcontractors. Not only does it impact a business’s cashflow, it often prevents suppliers and workforces from being paid. In extreme cases, it can lead to insolvency…”
Harsh Reality Check
This week’s Wise Up Wednesday is a harsh reality check for Specialist Contractors;
- Payment isn’t improving
- Contractors are still out to screw you
- The Government doesn’t care about you
- Some Trade Associations have sold you down the river
- The NSCC has joined the Contractors in Build UK and all talk about poor-payment has seemingly been expunged from the record
Sorry to be so harsh but even Construction News (who are not known for supporting Specialist Contractors) had this to say about payment;
“Almost all main contractors pay late without justification and poor payment practices are getting worse not better.
The CN report quoted one Specialist Contractor as saying;
“No one seems to be willing to tackle [the problem] and they get away with what amounts to fraud day in, day out. Then they have the nerve to ask us to sign non-corruption forms.
Well Streetwisesubbie Care – And We Are Doing Something About It
So, we want you to know that the Specialist Contractor’s champions StreetwiseSubbie.com already have lots of resources exclusively for Specialist Contractors, and will soon be launching a multitude of new ones.
We want to engage with, and bring together every single Specialist Contractor in the UK, and help you secure your company’s future whatever the economy, and discover solutions that will make an immediate and positive difference in your business.
Here is what’s already available;
First off, StreetwiseSubbie have published a whole range of easy to read guides written specifically and exclusively for you the Specialist Sub-Contractor.
You can find them here; Guides For Specialist Sub-Contractors
And to ensure that we cheer you up we are giving away a copy of;
The Little Book of Crap Advice for Specialist Contractors
Here is your copy
An Intelligent Forum
If you prefer to get answers via an intelligent and exclusive forum (none of the drivel you get in other forums), you are invited to join our exclusive group of over 2,195 owners, directors and senior staff of Specialist Sub-Contractors on LinkedIn.
You can find this exclusive group here Join Your LinkedIn Group
The group is an exclusive alliance of Specialist Sub-Contractors in the Construction and Engineering Industries, and it will help you to interact with over 2,000 other Specialist Contractors irrespective of your size or specialisation.
And Because We Know Times Are Tough…
We know these are tough times and we are already helping lots of Specialist Contractors just like you to market their business for bigger profits, and help them hang on to those profits in this tough commercial and contractual environment.
Trust me, the consequences of not having the right advice on your side can be catastrophic.
Don’t go there. Take action.
But you need to take the right action, at the right time. Waiting to see what happens, or asking the wrong person for advice will not cut it.
But, don’t take my word for it, read what several of our Buddies think about us here;
We look forward to keeping you up to date and helping you to resolve all your business problems, so please feel free to give us a call on 01773 712116.