Mark Supperstone, partner at S&W, a UK accountancy firm, said this change in course should not come as a surprise, adding it simply indicated a broader picture of “continued fragility” as smaller firms continue to operate with little headroom, amid planning bottlenecks and cash flow and labour pressures more generally.
RSM national head of construction, Kelly Boorman agreed construction SMEs making up the bulk of insolvencies was consistent with previous periods, adding main contractors battling macro and geo-political struggles could just push costs and risks down the supply chain.
“Extensive supply chains, low margins, extended working capital cycles, high debt burdens now subject to increased energy and material…