Accord funding towards better business performance in specialist trades
The Construction Sector Accord is funding the development of a benchmarking scheme to improve business performance for construction specialist trades, as part of its work to lift business performance in the construction and infrastructure sector.
"Promoting better business practice is a key goal of the Accord Transformation Plan. We know it's difficult for businesses – especially smaller ones – to access information on how to run a successful and high-performing construction-related business," said Construction Sector Accord Director Dean Kimpton.
"These new measures will greatly benefit the mostly small or medium businesses that deliver our specialist trades - electrical, plumbing & gas-fitting, roofing, scaffolding, steel, concrete & ventilation," said Mr Kimpton.
The Registered Master Builders Association will adapt measures already developed for lead contractors in the vertical construction sector, which include around 60 financial, operational and commercial metrics.
Businesses will upload metrics into a web-based system and they will receive reports on their business and wider industry trends.
"The business performance metrics framework will allow businesses to benchmark themselves against their peers and identify opportunities leading to higher performing and more resilient businesses," said David Kelly, Master Builders Chief Executive.
"We know this approach works from our work with the Vertical Construction Leadership Group, and we know from listening to our members that smaller businesses need this sort of support," said Mr Kelly.
The project's delivery will be supported by the Specialist Trade Contractors Federation.
"SME construction businesses make up the majority of the sector and are sensitive to economic cycles. Improvements for this sector will have a significant impact on lifting the overall construction sectors performance and resilience," said Federation President Graham Burke.
The development phase of the project is scheduled for completion in November 2021.