Last year, construction businesses accounted for almost 15% of callers seeking help with debt and the threat of insolvency, according to new data from national charity the Money Advice Trust, which runs Business Debtline.
In 2024, over 5,000 construction businesses contacted the Trust’s free Business Debtline service; with average business debts of £49,476 (excluding average tax debts), this equates to over £247 million worth of debt supported by Business Debtline in just 12 months.
In light of its findings, Business Debtline is working to create a dedicated ‘Construction Hub’ to support people and businesses in financial difficulty - working in partnership with the industry to help more people from across the construction sector.
Business Debtline also hopes to develop tools to help prevent businesses going into debt resulting in:
- More robust supply chains
- Future debt avoidance
- Increased productivity, resilience and opportunities for growth
Jenni Buckland, Partnership Officer at the Money Advice Trust, commented: “Our figures show that debt and insolvency is a major issue for the construction sector - hence the need for a dedicated hub.. Without promoting Business Debtline within the industry, people across construction are already finding us, but we know there are many more that could benefit from our support, we need to work together to deliver this, and help meet the need that’s out there””
“This has never been done before in debt advice - an industry-driven partnership bringing together the expertise of Business Debtline and the Money Advice Trust with the insight and support of the construction industry to make a real difference to small and micro businesses and the supply chain as a whole.”
Jenni will be part of a panel discussion at UK Construction Week London, Insolvency in the Supply Chain: Protecting Your Business in Uncertain Times, (Main Stage, Friday 9th May, 1.45pm). Chaired by Jessica Evans, Partner at Burges Salmon LLP, the expert panel, will provide guidance on managing risk, preventing financial difficulties, and navigating insolvency when necessary.
Jessica Evans, partner in the Construction and Engineering team at UK law firm Burges Salmon, commented: "As the construction sector continues to face numerous challenges, including rising material costs, skill shortages, and the expenses associated with integrating technologies like MMC, these pressures are tightening margins and affecting the financial stability of companies of all sizes, with even the largest players not immune to the volatile risks plaguing the sector.
“We look forward to our panel discussion with the Money Advice Trust and FRP Advisory, which aims to support businesses in managing risks effectively, building resilience, seizing opportunities for sustainable growth, and navigating potential insolvencies when they cannot be avoided."
Neil Gaisford, Divisional Director, Construction, commented: “These statistics are truly alarming and highlight the need for bespoke support for the industry; the seminar at UKCW London is a must-attend for any business who’s been affected or is threatened by the spectre of debt and insolvency.”
With an overall theme of ‘Where deals are made’, UK Construction Week (UKCW) London (ExCeL, May 7-9th) has announced a myriad new features and co-located shows for the show in May. The only event designed to cater for the whole construction supply chain, UKCW London 2025 will not only be co-located with The Stone Show & Hard Surfaces for the first time in its history, but will feature an array of exciting initiatives and exclusive launches.
After the success of its debut at the Birmingham show in October, UKCW London will also feature Onsite On Hire, making its return to London after 16 years. Onsite On Hire is a hire industry showcase designed to show the very best tools, compact plant and equipment exhibitors.
Another exciting feature for the show in May, and coming to UK Construction Week London for the first time, will be HVAC+R, which will see a showcase of heating, ventilation, air conditioning and refrigeration solutions.
UKCW London attracts over 18,000 visitors, and runs alongside The Offsite Show, making it the largest construction trade show in the capital. The 2025 event will also feature a new VIP pass, allowing visitors to elevate their experience for just £99 per day. The new pass allows VIP guests to skip the queues with fast-track entry, relax in style in the exclusive VIP Lounge with complimentary coffee, a range of alcoholic and soft drinks, and a dedicated WiFi network throughout the day.
What’s more, free parking at the venue is included in the purchase of the ticket.
Following the London show in May 2025, UKCW Birmingham returns to the NEC from 30 September to 2 October 2025.
To register for UKCW London for free, visit https://forms.reg.buzz/ukcw-london-2025/cab-pr
