Financial Services

Project Bank Accounts – Wales Lead the Way
www.buildnews.co.uk

Shocked by the way principal contractors were failing to pay sub trades and suppliers promptly, in 2013 Jane Hutt, Minister for Finance & Government Business, introduced the idea of “Project Bank Accounts” for all Welsh Assembly backed projects.

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Contractors will be financiers in new wave of Chinese investment
www.buildnews.co.uk

Look out for a new wave of Chinese investment oversees, this time from contractors. The focus of their attention will be infrastructure, and it will hit UK shores first, writes Shourav Lahiri

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Thinking of starting a business? | Business Wales
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If you have an idea that you want to develop into a business, we can help you get started and improve your chance of success. You can get a range of free services from Welsh Government to help you start and grow your business, including:

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How to seduce a VC
www.buildnews.co.uk

Roberto Bonanzinga is a partner at Balderton Capital and has spent over 15 years working with entrepreneurs in the US and in Europe. He gives some candid advice on how to approach a VC.

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Cash Boost For Small Construction Firms
www.buildnews.co.uk

A pilot scheme which launched two months ago to help small businesses and sole traders secure credit has helped 200 firms to date. .

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EIS and SEIS failing on awareness and eligibility fronts
www.buildnews.co.uk

The Enterprise Investment Scheme and Seed Enterprise Investment Scheme are failing to register on the radar of UK entrepreneurs, despite having been around since 1994 and 2012 respectively.

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Late payment ‘will result in deaths’ MPs told
www.buildnews.co.uk

Many subcontractors are so starved of cash that they are cutting corners in their work, creating a legacy of unsafe buildings and that “will result in the deaths of people” a witness to the late payments inquiry told MPs. Steve Sutherland of Dortech, a specialist commercial glazing contractor based in Huddersfield, said: “I feel very […]

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Balfour Beatty running ‘pay for early payment’ pilot – with Kier next in line
www.buildnews.co.uk

Balfour Beatty has confirmed it is running a three-month pilot on “supply chain finance”, the controversial mechanism that gives subcontractors access to sums owed by Tier 1 contractors earlier than the contract states in return for paying an interest charge.

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House prices rise but face significant constraints, says Halifax
www.buildnews.co.uk

House prices rose for the fourth successive quarter at the beginning of 2013, according to figures released by mortgage lender Halifax. Prices in the first three months of the year were up by 1.2% on the previous quarter, and up by 1.1% on the same period in 2012. The lender’s latest snapshot of the housing […]

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House prices to beat peak in 2014
www.buildnews.co.uk

Help to Buy will boost prices more quickly than supply. Cebr predicts an average UK home will cost £227,000 in 2014, surpassing the pre-crisis peak for the first time.

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UK services sector posts encouraging start-of-the-year figures
www.buildnews.co.uk

Incoming new work has contributed to the fastest growth seen in the UK services sector for over half a year, new figures show.

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