A report on the growth of subcontracting – ‘A study of UK subcontractors in 2018’ – has been published by Bibby Financial Services.
Bibby Financial Services writes:
Key findings of Subcontracting Growth Report:
- Subcontractors take on an average of 45 new contracts each year.
- The average contract value is £205,077.
- 56% say they have no bargaining power and have to accept contract terms stipulated by main contractors or risk losing business.
- 47% say that the collapse of Carillion has made them wary of working with large main contractors.
- 82% say they support mandatory payment terms for all public sector suppliers and 69% say there should be better public reporting of supply chains.
- Subcontractors have an average of 26 weeks’ work in the pipeline, compared with 22 in 2016.