Workstream 2: Business performance
Benchmarking and a digital boost for construction SMEs
This workstream focuses on lifting performance through a clearer pipeline and by sharing good business and risk management practice.
Specialist trades benchmarking tool
It is difficult for businesses to access information on how to run a successful and high-performing construction-related business.
The Accord is partnering with Master Builders to develop a specialist trades benchmarking tool, for specialist trades businesses to measure their performance against. This allows the sharing of good business practices and builds resilience.The business performance metrics are a set of quantifiable/qualitative measurements used to gauge the performance of a business and give owners better business insight. They include financial, operational and commercial measures. The tool has been developed using a framework already established for the vertical construction sector.
It is a collaboration between numerous specialist trade associations, is funded by the Construction Sector Accord and will be delivered by PwC.
Development was completed in November 2021 and user testing is underway, with a product launch scheduled for early 2022.
Digital Boost partnership
The Accord has partnered with the government- funded Digital Boost programme to develop digital learning material and build digital capability of small and medium construction businesses and a webinar was broadcast in September 2021 and the Accord and Digital Boost are developing construction-related material focused on digital tools that help with managing finances, risk
and project management, workflow and online presence (website and social media platforms).
As of 9 December 2021 there were just over 43,000 Digital Boost Registered Trainees. Of those, 13.3% (5,740) were in the construction/ trade businesses category. This ranks the category sixth for participation.
Of just over 4,300 construction/trade businesses registered with Digital Boost, more than half (51.4%) were small business owners. The remainder are made up of sole traders/ partnerships, thinking of starting a business or small business employee.