Business Resilience
Creating a fairer business landscape
For over a century ECA has worked tirelessly to improve the commercial environment in which Members operate and to bring transparency to damaging practices.
As business operators, ECA Members know the importance of an equitable commercial environment to stimulate growth in the sector. For over a century ECA has worked tirelessly to improve the commercial environment in which Members operate and to bring transparency to damaging practices. It continues to champions the interests of engineering services firms today.
Thanks to ECA’s tireless efforts in recent years:
- Legislation has changed to shorten the legal time to pay contractors to 30 days in the public sector,
- Government has made it a requirement that public sector suppliers must demonstrate an average payment time of 55 days to win public contracts, and
- Increase scrutiny of payment reporting regulations by ensuring reports include the value of payments made within certain timeframes, as well as the volume of payment made in those periods.
What is the issue?
Poor payment behaviour
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Poor payment behaviour
Poor payment behaviour throughout the supply chain leads to delays in payment and cash flow issues for sub-contractors, inhibiting growth and investment.
Under-priced procurement bids
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Under-priced procurement bids
Under-priced procurement bids lead to cutting corners, resulting in quality, compliance and safety issues.
Financial risk carried disproportionately by SMEs
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Financial risk carried disproportionately by SMEs
Financial risk carried disproportionately by SMEs who tend to be at the end of the supply chain, fuels business failure.
What is ECA calling for?
Fairer, quicker and more secure payments to all businesses
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Fairer, quicker and more secure payments to all businesses
- Improving and implementing legislation and policy to improve payment behaviour (including the implementation of the Construction Playbook within industry).
- Ensuring transparent digital systems evolve to facilitate payments quicker and fairer payments.
- Designing systems for fair and protected use of retentions where necessary and used.
Value, not cost-led, procurement
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Value, not cost-led, procurement
- Promotion of whole-life procurement.
- Alignment of national and local procurement processes to embrace SMEs.
- Pursuit of early involvement of engineering services.
Fairer risk sharing between client and industry
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Fairer risk sharing between client and industry
- Fair risk and reward – appropriate allotment of risk throughout the supply chain.
- Eradication of onerous contractual practices inhibiting growth.
- Standardised approach to contracting to enable improved industry performance.
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