Response from construction company Stepnell to government and industry ‘Construction 2025 Strategy’ announced (2 July)

“We welcome today’s ‘Construction 2025’ Industrial Strategy and Government and industry’s collaborative plan to generate long-term industry growth and job creation. We’re particularly happy to see a real commitment to improve current business conditions and make life easier for small and medium-sized construction businesses (SMEs) - the backbone and building blocks of construction recovery - by improving access to finance and creating fairer payment practices,” says Mark Wakeford, managing director of Rugby-based regional construction and engineering company Stepnell.

“With energy and material costs up, business confidence low, and late payments and lending conditions getting worse, many SMEs are fighting to survive. Addressing late payments and lending issues is vital to building business confidence and improving certainty which we need to drive innovation and long-term growth. We also welcome plans to improve our industry image and attract more young people into construction as well. The focus on up-skilling our workforce to meet future market demands is crucial if we are to make British construction world-class”.

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