The complex nature of construction contracts means it is all too easy for construction businesses to pay you later than is agreed or even pay less than you are entitled to. The problem is exacerbated in times of economic unpredictability, when cash retention becomes a greater priority for many businesses. It means recovering debt and […]… Continue Reading
National Insolvency figures published (14 October 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in October 2022 was 1,948: 38% higher than in the same month in the previous year (1,410 in October 2021), and 32% higher than the number registered three years previously (pre-pandemic; 1,477 in October 2019). There were […]… Continue Reading
At Top Service we promote the use of great customer relationships to support our members’ business growth and help to improve cash flow. To improve cash collections it’s important to understand that this part of the business is as important as any other. Provide support or even extra training & credit management tools to the […]… Continue Reading
Trading experiences, available exclusively through Top Service, are instrumental in protecting its membership of UK based construction companies from crippling bad debt. In the following case study we will highlight a particular example where trading experiences saved one of our members hundreds of thousands of pounds. The submissions of information from members led to Top […]… Continue Reading
National Insolvency figures published (14 October 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in September 2022 was 1,679: 16% higher than in the same month in the previous year (1,453 in September 2021), and 11% higher than the number registered three years previously (pre-pandemic; 1,508 in September 2019). In September […]… Continue Reading
Written by Zahida Shah, Trainee Solicitor at Silverback Law Following our previous article on the Small Claims Track, this month we will be talking about matters that are allocated to the Fast Track, and what this means. What is Fast Track? When a claim is brought at court, and a Defence is received, the court […]… Continue Reading
National Insolvency figures published (16 August 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in August 2022 was 1,933: 43% higher than in the same month in the previous year (1,348 in August 2021), and 42% higher than the number registered three years previously (pre-pandemic; 1,365 in August 2019). In August […]… Continue Reading
Written by Keith Tully, partner at Real Business Rescue With business insolvencies on the rise and organisations of all sizes struggling to deal with rapidly increasing costs, spotting the red flags of business failure is now more important than ever. Fortunately, there are certain issues, both strategic and day-to-day, which signal problems ahead and can […]… Continue Reading
How often do you struggle to get paid? Whether it’s late settlements or getting paid at all, many contractors spend far more time than they should chasing payments. According to Construction News this is an industry-wide problem that reaches beyond main contractors. Companies throughout the supply chain are guilty of poor practice when it comes […]… Continue Reading
National Insolvency figures published (16 August 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in July 2022 was 1,827: 67% higher than in the same month in the previous year (1,096 in July 2021), and 27% higher than the number registered three years previously (pre-pandemic; 1,440 in July 2019). In July […]… Continue Reading
