4R Blog

RSS Feed

More construction firms could be taking business debt advice

Date Added: 26/10/2010  

The need for business debt advice could be stronger in the construction industry than other sectors, according to newly-released figures from Bacs Payment Schemes.

Statistics unveiled by the organisation show that construction firms have made 25 per cent fewer Bacs salary and wage payments from August 2007 to August 2010, which suggests that many members of staff have been made redundant.

The transport, storage and communication sector also saw a large fall, with 19 per cent less payments made to firms in the industry.

Mike Hutchinson, head of marketing at Bacs, explained that analysing payroll figures allowed the organisation to build a picture of how firms are performing in the wake of the recession.

"The construction sector has been the real loser, while mining and quarrying experienced the largest increase in payroll payments," he said.

Emyr Williams, director of ByteStart, recently stated that the number of companies needing to take business debt advice is likely to climb as a result of cuts outlined in last week's Spending Review by chancellor George Osborne.

Posted by Julie Cutts  

Get the Help You Deserve

0800 90 20 123

Urgent Help Call 24/7

020 7183 2606

We'll Call You

Request a Callback