This is according to a recent industry survey. In fact, cash flow problems are a common occurrence for those within the industry, with 90 per cent of subcontractors reporting that they’ve experienced late payment in the past.
When faced with financial difficulties, it can be a challenge for construction companies to continue to run operations effectively. Businesses can be left unable to pay suppliers on time, provide their employees’ wages or complete projects effectively.
The infographic below looks at why construction companies are prone to financial distress while also offering some solutions that may help to resolve their issues.
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