Nine out of ten firms struggling with late payments warn Menzies, heat pump costs haven't come down, and university graduate switches career
Nine out of ten firms in the construction sector are struggling with late payments — that’s according to a report from Menzies.
On average, payments from contractors or supply chain partners are running 53 days overdue.
One in five firms also admitted they were financing their own projects, while they wait to get paid.
The accountancy firm predicted that 86% of British construction firms were already in or at risk of serious financial distress.
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Assumptions that the cost of heat pump installations would drop once widespread adoption began have proved false, claims the Energy Utility Alliance (EUA).
The study by the trade association found costs had dropped by less than 1% over the last four years.
Most of the costs associated with a heat pump project relate to the design and installation and have not been affected by the ‘economies of scale’ as “repeatedly assumed”.
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A 21-year-old university graduate is retraining as a plumber after deciding she wanted a practical career that “AI can’t take over”.
Heena Kerai was in the second year of a psychology course and had already racked up £30,000 of student debt when she started to “reconsider her future”.
Eventually, she hopes to become both a part-time plumber and psychological wellbeing practitioner.
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