INDUSTRY NEWS
CASHFLOW CRISIS CRITICAL
cashflow problems in construction are unsustainable. Given the problems of late and lengthy payment periods and lack of access to reasonably priced lines of credit, SMEs are relying more on their directors for funding. Directors lent their construction businesses £38 million in 2015/16; in 2013/4 it was £29.7 million (source: Funding Options). SEC Group CEO, Professor Rudi Klein, said that these
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figures were extremely worrying: “With SMEs now relying more and more on their directors for their liquidity, the cashflow position in the industry is now critical.” This is against the background of the poor state of the
balance sheets of the UK’s largest construction firms, recently highlighted by the debt-ridden problems faced by Carillion (the second largest construction company). Prof Klein added:“These companies are taking longer and longer to pay their supply chains with SMEs having to spend the bulk of their contract values up front before receiving any payment.” SEC Group is pressing the Government to introduce legislation which will mandate 30 day payments, ring- fence cash retentions, and mandate the use of project bank accounts across the whole of public sector construction.
he Specialist Engineering Contractors’ (SEC) Group – which represents SMEs in the construction engineering sector – has warned that current
MORE TIME FOR ACR NEWS AWARDS
once more. Mike Nankivell, HPA president of the HPA, comments: “This prolonged process of reform could potentially damage the renewable heat industry, creating uncertainty and confusion over tariffs. Although we are once again left frustrated by the delays, we recognise that when the changes are finally implemented there will likely be a silver lining in the form of significantly improved tariffs. The RHI is an incentivised scheme designed to promote the use of renewable heat and help the UK reduce its carbon emissions.
September 2017. Sponsored by Bitzer, Hawco, Hitachi, Advanced Engineering, First Choice, Smith Brothers Stores and Toshiba, the ACR News Awards recognises the talent, dedication and hard work at the heart of the air conditioning and refrigeration industry. Bringing four new categories into the mix, the 2018 Awards is set to be bigger and better than ever before. Commercial Contractor and Industrial Contractor of the Year will be determined by an industry vote. Open to UK air conditioning and/or refrigeration contractors, entrants can demonstrate their extensive hard work and the scope of their service capability, offering valuable business exposure. Also new for 2018 are two new judged
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categories: Thermal Controller and Instrumentation of the Year. These categories are open to air conditioning or refrigeration controllers or instrumentation launched onto the UK market after November 1, 2016. Decided by a panel of industry experts,
event. With the extended entry deadline, there’s still plenty of time to enter the 2018 Awards. To enter and view all of the categories, visit
www.acrnewsawards.com/enter and fill in the free online form, supplying supporting documents where required. The 2018 Awards will take place on
Wednesday January 24, falling on the second night of The HVAC & Refrigeration Show. Held at 155 Bishopsgate, London, the event is located just a short distance from the Show in the heart of the capital city. To book early bird tickets, visit
acrnewsawards.com/tickets. Please note that ticket rates will increase on Tuesday November 21, 2017. For information contact Steve Bennion on 01622 699102 or
sbennion@datateam.co.uk
he ACR News Awards 2018 entry deadline has been extended to Wednesday 20,
entrants will highlight their key technological features and how their product differs from competitors, amongst other criteria. The winners of all categories will be announced on the night of the Awards. Entering the ACR News Awards is a brilliant opportunity for companies to
procedural formatting issues, the snap general election and changes to
Government have altered the delivery timeframe
increase brand awareness and for individuals to raise their profile and fly their company flag at a prestigious industry
he Heat Pump Association has expressed its disappointment following news that the delay in bringing in the vital Renewable Heat Incentive (RHI) reforms will extend beyond the summer. The reforms have suffered a number of delays and setbacks due to
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Simply brilliant
NATURALLY INSPIRED EFFICIENCY
www.heatingandventilating.net
September 2017
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