At, Bibby Financial Services, we come into contact with a wide range of enterprises and business owners.
From home grown micro-businesses and SMEs, to creative outlets and corporate enterprises, our job at Bibby Financial Services is to help businesses fulfil their potential and thrive in their dedicated trade.
The construction sector
One of the areas we specialise in is construction and we have been providing funding solutions for the sector for over ten years.
Construction contributes around £90 billion (6.7 per cent) in Gross Value Added (GVA) every year, and provides some 2.93m jobs in over 280,000 businesses. It’s therefore not an industry to be ignored!
Bibby Financial Services research
Many businesses in the construction sector are sole traders, partnerships and small subcontractors who are often ignored in favour of large main contractors and house building giants.
So, in light of this, in the final three months of 2014, our market insight team conducted a study which offers a unique take on the challenges and opportunities that smaller firms face today – such as struggles with cashflow and issues surrounding late payment.
‘Planning for Growth: Construction SMEs in the UK’
Based on a sample of 200 businesses, our study – presented in the report ‘Planning for Growth: Construction SMEs in the UK’ – shows levels of work, opportunities and challenges faced by these SMEs. To find out more you can read the report and download it in full on the Bibby Financial Services Blog.
You can also find out more about Construction Finance on the Bibby Financial Services’ website here.
About the Author
Having worked in financial services for over 36 years, Andrew Darling is a specialist in invoice discounting, factoring and trade finance solutions. He currently manages the development of business with higher turnover companies at Bibby Financial Services, specialising in corporate finance for businesses with turnover of £5 million or more.