As the construction industry gets ready to open their sites, Turner & Townsend’s recent UK market intelligence report warned the construction industry to adopt agile strategies and prepare for the risk of supplier insolvency, material shortages and contract liabilities.
We conducted our own survey showing the impact of COVID-19 on our supply chain partners and what measures we have put in place to support them during these difficult times.
The survey was conducted amongst 294 active supply chain partners with 93% being SME’s
The survey showed:
- 18% will suffer financial difficulties
- Only 7% have had all their sites closed
- 93% will be using The Government furlough schemes
- 72% have suffered from employee absence
- An average of 35 people has been furloughed per supply chain partner
- Only 7% will be using the Government Business Interruption Loan Scheme
When we asked our supply chain partners how we have supported them:
- 82% agree we have done enough to inform and support them
- 72% agree that we have done enough to protect their business
We have already, collectively, faced many challenges throughout the outbreak of COVID-19, from illness, limited material supply, travel restrictions, through to the very survival of our businesses, however we have supported our supply chain by keeping our sites open, maintaining payments and assisting in the procurement of materials and forged stronger deeper relationships along the way.
Feedback from our active supply chain partners has been extremely positive with over 80% stating that Willmott Dixon Interiors are doing enough to protect and support them but most importantly keep their people safe. Keeping our sites open has supported not just our industry, buts its people and the wider economy.
Find out more on how we have kept our sites open on Construction Enquirer’s social distancing picture special