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BESA hopes reformed Prompt Payment Code will drive industry behaviour change
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How touchless technologies will help get Chicagoans back to work in-person
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Almost 100,000 small construction businesses are in financial difficulty, a business recovery specialist has warned.
Analysis of Begbies Traynor’s Red Flag Alert data service, carried out by its Real Business Rescue operation, found that 96,067 small and medium-sized enterprises (SMEs) in the building sector were in “significant financial distress” in the first quarter of this year. This means those firms either had county court judgements of less than £5,000 filed against them or had been identified as having a sustained or marked deterioration in key financial indicators such as working capital, retained profit and net worth.
The number of construction SMEs in such trouble rose by 21 per cent from the previous quarter, when almost 80,000 firms were identified as facing difficulties, More than 250,000 jobs are at risk, according to Real Business Rescue.
The UK needs a programme of rail electrification to be implemented “immediately” in order to meet its revised net zero commitments, according to 17 rail industry bodies, businesses and campaign groups.
An open letter to transport secretary Grant Shapps says that it “will be impossible to decarbonise rail without further electrification”.
The calls for electrification come after the government committed to reducing the UK’s carbon emissions by 78% by 2035.
The letter is accompanied by a new report
Why Rail Electrification? which sets out why – even with the development of clean new technologies like battery and hydrogen trains – the industry will be unable to decarbonise the rail network to the extent required without significant further electrification.
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