Construction News

Fri October 19 2018

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Electricians endure late payments and rising costs

18 Sep A survey of electrical contractors reveals a picture of rising costs and continuing delays in getting invoices settled.

Survey responses show that only 30% of payments from commercial clients were made within 30 days with the rest taking up to 89 days to settle their accounts. Public sector clients are not much better, despite them supposed to be role modelling best practice. More than half of all payments from public sector clients are taking more than 30 days.

The survey was carried out on behalf of the Electrical Contractors Association, the Building Engineering Services Association, Scottish electrical trade body Select and the Scottish & Northern Ireland Plumbing Employers’ Federation.

It also showed that the costs faced by companies shot up in the second quarter of 2018. More than 70% of respondents said that material costs had increased during the year.

MPU

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