Bulletin

Late payers threaten to demolish building firms

A quarter of small and medium-sized building firms are at risk of going out of business because clients don't pay their bills promptly. One in four smaller construction firms surveyed by invoice processing firm Tungsten Corporation reported that late payments meant they faced the threat of having to stop trading. The study also revealed that 42% of building firms felt the late-payment problem had not improved in the past 12 months, with 32% suggesting it had become worse. Despite the scale of the problem, just 22% of respondents had heard of the Prompt Payment Code.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Spain

Santander takes 12 UK food and drink manufacturers to Spain on one of our successful trade missions. Adam Payne in the international team…

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Getting a taste for Spain!

Santander takes 12 UK food and drink manufacturers to Spain on one of our Trade Missions. Alicia Ferrero Vega in the International team…

Bulletin

Where Next?