Customers taking longer to pay contractors after pandemic, says Lloyds research

covid

Source: Shutterstock

More than a quarter say customers take more than 30 days to settle invoices

The coronavirus pandemic exacerbated late payments in construction according to research by Lloyds Bank Commercial Banking.

A survey of companies found that of those contractors that had seen a change in customer behaviour since the beginning of the pandemic, more than two-thirds had experienced slower payments.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

 

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

  • Limited access to building.co.uk
  • Breaking industry news as it happens
  • Breaking, daily and weekly e-newsletters

Get your free guest access  SIGN UP TODAY

Gated access promo

Subscribe now for unlimited access

 

Subscribe to Building today and you will benefit from:

  • Unlimited access to all stories including expert analysis and comment from industry leaders
  • Our league tables, cost models and economics data
  • Our online archive of over 10,000 articles
  • Building magazine digital editions
  • Building magazine print editions
  • Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community