A brand new survey by Glenigan for the Nationwide Federation of Roofing Contractors (NFRC) reveals that simply 14% of roofing contractors say they’ve a clean expertise gaining the retention monies that they’re owed on native authority initiatives. For 86% there are issues.

The newest State of the Roofing Business survey requested roofing and cladding contractors about their experiences with money retentions, particularly when endeavor native authority works. 

Greater than half (51%) of respondents to the quarterly survey stated they took on native authority work. Of those, 76% stated that they all the time, normally, or typically had retentions held on them when endeavor these works.

Of that group, 86% stated they all the time, normally, or typically had bother acquiring the retention monies they had been owed.

• 17% stated they ‘all the time’ had bother
• 33% stated they ‘normally’ had bother
• 36% stated they ‘typically’ had bother.

This info was collected to assist NFRC’s marketing campaign in opposition to the abuse of retentions. 2021 analysis from NFRC that exposed £300m of money was being held in retentions within the roofing business alone.

Ongoing analysis from the commerce physique at present additionally signifies that roofing contractors are typically not seeing this historic apply fade out, regardless of business efforts to encourage voluntary motion by shoppers to cease holding retentions.

78% of those that have responded to date to the broad-based 2023 Member Retentions survey say that they’re going through the identical stage or extra retention as final yr. Respondents known as coping with retentions ‘pointless’, ‘tortuous’, and even ‘psychologically damaging’.

NFRC chief government James Talman stated: “At finest, retentions are an extra burden on time-poor microbusinesses. At worst, they scale back subcontractors to working at a loss and typically even going through insolvency.

“Ending using money retentions would encourage enterprise funding in abilities and growth by enhancing development SME cashflow, would unencumber hours of wasted time chasing owed monies, and will scale back the variety of sub-contractor companies that resolve they simply can not keep it up. This outdated apply has endured for lengthy sufficient: authorities, at each the nationwide and native stage, ought to set an instance to all UK shoppers to finish its use all through their venture provide chain.”

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