How subcontractors can protect themselves when builders hit financial trouble
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
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.