A global timber shortage is causing havoc within the UK scaffolding industry as scaffolding board prices increasing with no end in sight.
Warnings of timber shortages including scaffolding boards are continuing to being issued from leading businesses and organisations from across the UK construction and housebuilding industry.
Due to worldwide demand, timber organisations are expressing stark concerns about low stocks of European softwood, which is the raw material used to produce UK scaffolding boards.
According to our sources in the UK, scaffolding contractors are now paying on average between £12 – £16 per 13ft board. The average price last year was around 50% cheaper!
There is a huge demand for timber at the moment – prices have increased by 100% in recent weeks alone. All suppliers are budgeting to pay more for timber for the foreseeable future. Those costs, which would often have been absorbed by suppliers before, are now more likely to be passed on to some degree, meaning that contractors may also have to re-think their pricing.
But what can contractors do? Finance!
As a leading finance broker to the construction industry, Approved Business Finance Ltd has seen many firms considering their options particularly in terms of Asset Finance and Refinance. Refinance has also allowed firms to release cash equity from existing equipment to help support other areas of their business, like recruiting skilled workers to their teams AND purchasing more equipment.
With Asset Finance, firms have been able to purchase new equipment at a monthly cost. Firms were able to immediately get a return on their investment, as equipment could be used on new projects straight away and in some cases helping to secure new contracts.
If your firm could benefit from Asset Finance or Refinance, contact us on 01908 429888 or email info@approved-finance.co.uk.