How subcontractors can protect themselves when builders hit financial trouble

Authors

Greg Mawer

3 minute Read

The building industry is facing one of the biggest challenges in its history. It is no wonder, with government grants increasing demand, material prices skyrocketing and a very tight labour market. When builders have financial challenges, it is often the subcontractors who bear the brunt.

Top tips for subcontractors to protect themselves

Warning signs

There are a few tell-tale signs that a builder is under financial stress. A few examples are not returning calls, paying bills progressively later and ‘word on the street’ from other suppliers that they also are having challenges being paid.