Third of specialist contractors plan expansion

Aaron Morby 11 years ago
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A rise in enquiries among specialist contractors has seen nearly a third press ahead with plans to expand within the next three months.

According to the latest National Specialist Contractors Council State of Trade Survey firms have seen a rise in enquires for the third quarter in a row during the early summer

Order levels in the second quarter were also up with 44% reporting an increase, compared to just 27% last quarter.

This increase in trade has led 31% of specialist contractors to look at expanding their businesses in the next three months, with 41% planning expansion over the next year.

Late payment is still affecting specialist firms with just 5% receiving payment within 30 days.

For the 54% of respondents who carried out public sector work,three quarters reported being paid within 30 days.

NSCC Chief Executive Suzannah Nichol said this was encouraging, although with 30-day payment now a contractual requirement on central Government contracts, there was still more work to be done to ensure that all firms benefit from the Government’s commitment to prompt payment.

“After an extremely tough few years, it’s good to see optimism returning in the specialist sector.

However, successful long term growth will only be possible if the industry solves the problem of late payment which continues to impact on the supply chain.

“This has been recognised in the ‘Industrial Strategy: Construction 2025’ and NSCC will be working with Government to ensure that the commitment to address payment practices is taken forward.”

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