£150m investment to benefit construction SMEs
Published: 16 September, 2013
There is to be £150m invested in the UK construction sector over the next five years, the Department for Business, Innovation & Skills and Technology Strategy Board recently announced.
The investment is to support the development of more energy-efficient buildings, reduce construction time and improve overall quality. It is also expected to provide economic benefits, with three quarters of the organisations supported by the additional funds being SMEs with less than 250 staff.
“This new investment in the construction sector is a welcome boost and will provide much-needed support to businesses,” said John Thompson, chief executive of the Association of Plumbing & Heating Contractors. “We do have some reservations about what organisations will receive funds, how the investment will be delivered, and how SMEs will be able to access this investment support.
“We would also reinforce the need for government to adequately address payment arrangements to subcontractors as part of the initiative, as payment arrangements for many SMEs is still often a major barrier to contracting for work. We look forward to further details of how this scheme will work.”
For more details on this investment programme and the future plans visit: https://www.gov.uk/government/news/150-million-investment-will-help-transform-uk-construction-sector.