Construction cash flow has been a major problem for 400 years and it hasn't changed much since the times when St. Paul's Cathedral borrowed funds from St Peter's Cathedral to pay for its building works; it's where the saying "Robbing Peter to Pay Paul" comes from.
There are many factors that affect cash flow in construction from unfair contract terms, cash farming, poor record keeping, poor quality, delays, missed application dates, slow payment culture, low working capital, contractors handling other people's money, the list goes on. However, one thing is for sure, whatever the reason, the consequences can be serious for the myriad of small business owners that make up the construction supply chain. Tragically, insolvency, mental health, suicide, and family breakdown are some of the knock-on effects of the slow payment culture tradition in construction.
This is why I started The Construction Cashflow podcast, in order to keep these issues at the forefront of people's minds when setting up and carrying out construction projects.
As a result of the competitive nature of holding the cash in construction, it is my belief that construction punches well below its weight in wealth creation for the wider economy, families and communities.
In this episode, I explore raw grassroots attitudes toward subcontractor payments and health and safety with Dave Forde who, having had over 40 years in the industry working on some of the largest infrastructure projects in Europe, Dave tells it like it is!
Dave has his own property development business and is a member of The Association for Project Management, a Member of the CIOB and the Institution of Engineering Technology.
He has worked on notable projects such as Cross Rail, The Jubilee Line Extension, The Gerkin, The Shard, and Heron Tower. Dave is currently the Senior Authorised Person on HS2 for Electrical Safety.
Dave also shares his story, of how he got to where he is today, along with what inspires and motivates him.
Enjoy the Podcast.
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