Construction businesses in Scotland are still suffering the scourge of late payments, outstanding retentions and unexpected charges, a new survey by the CICV has revealed. Some 68% of respondents to our poll said their payment terms were altered negatively, with 60% claiming adjustments to payments were made with little or no explanation. And 69% of […]
Tag: money
CICV launches major payment and cashflow survey
THE Construction Industry Collective Voice (CICV) has launched a new survey to help establish an overview of the current state of payments and cashflow in the Scottish construction industry. Created by the CICV’s Pipeline & Commercial sub-group, the survey is structured so that answers are anonymous, with no possibility of respondents being identified. All information […]
Forum urges vital measures to improve cashflow and save businesses
The CICV Forum has presented Holyrood with a paper of comprehensive recommendations to ease the cashflow crisis as the group continues fighting to save Scotland’s construction sector during the COVID-19 pandemic. The paper, which outlines a series of urgently-needed actions to improve liquidity in the industry, will go to both public and private sector clients, […]
Forum praises HMRC, but says real test is still to come
The Construction Industry Coronavirus (CICV) Forum has hailed the “speed and efficiency” of the Coronavirus Job Retention Scheme rollout – but says the real test will be if all claims are paid on time. The specialist body said the successful launch by HMRC last week could provide a “vital lifeline” to companies across the country. […]
Cashflow piles on agony for businesses, Forum survey reveals
Cashflow has completely dried up for nearly 80% of firms in the construction industry in Scotland, according to businesses which responded to a major survey carried out by the newly-established Construction Industry Coronavirus (CICV) Forum. More than half of firms who took part in the poll also say they’re owed vital monies from public and […]