In episode 123 of The Subcontractors Blueprint podcast, host Jacob Austin provides construction business owners with practical guidance on managing compensation event clauses under NEC contracts. He explains the crucial differences between early warnings and compensation events, outlines notification and quotation procedures, and emphasises the importance of timely communication, thorough record-keeping, and contract compliance. Using real-world examples, Jacob demonstrates how proactive management of these clauses can protect subcontractors’ interests, improve cash flow, and foster collaborative relationships with contractors—ultimately supporting business growth and successful project delivery. KEY TAKEAWAYS: The episode explains the difference between early warnings and compensation events in NEC contracts, emphasising their roles in proactive risk management. Early warnings are about flagging potential risks before they happen, while compensation events address actual changes that impact time or cost. Failing to issue early warnings can result in reduced compensation, as contractors may assess claims as if warnings had been given. Strict notification and time bar requirements mean subcontractors must act quickly and provide clear evidence to protect their entitlements. Compensation events are assessed based on defined costs, and well-prepared, transparent quotations are essential for successful claims. Collaboration, clear communication, and following contract processes are key to avoiding disputes and ensuring fair outcomes on NEC projects. BEST MOMENTS: "The principle behind [Early Warnings] is that it's a proactive risk management tool to flag up issues that could impact time, cost and quality." "Early warnings are future events—they may happen or they might not. Compensation events are guaranteed to happen." "Compensation events are assessed on the basis of defined cost, which is essentially the reasonable cost that you incur yourself, plus an applicable fee." "A well-prepared quote is critical. It needs to be clear with breakdowns of your labor, plant, materials, and descriptions of how it's been calculated." "The point is to create early and binding agreements as you go throughout the contract, to avoid the need for lengthy disputes and final account meetings." "The straight talking truth is that compensation events can become contentious if people can't get around the table and talk sense and come to sensible agreements." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 122 of The Subcontractors Blueprint podcast, host Jacob Austin guides construction business owners through the payment mechanisms of NEC subcontract agreements, focusing on the 50 series clauses. He explains the importance of assessment dates, compliant payment applications, and the impact of main option clauses (A–E) on cash flow. Jacob highlights that contract amendments that can complicate payments and shares a practical checklist for managing the payment process. The episode offers actionable advice to help subcontractors protect their cash flow, avoid payment disputes, and ensure profitability under NEC contracts. KEY TAKEAWAYS: The NEC subcontract’s payment process is strictly tied to assessment dates, requiring timely and compliant applications for payment. Missing an application deadline or submitting a non-compliant claim can result in receiving no payment or even owing money due to contract clauses like 50.4. Different NEC main options (A–E) significantly affect how payments are calculated, from activity schedules to bills of quantities and cost-reimbursable models. Maintaining clear records and collaborating with the main contractor is crucial, especially for measurement and cost-based payment options. The UK Construction Act (via clause Y(UK)2) mandates fixed payment timelines and defines payment notice requirements, overriding variable invoice-based systems. Careful contract administration, matching application formats, and assertively managing payment schedules are essential to protect subcontractor cash flow. BEST MOMENTS: "The NEC payment process is only fair if you run it properly and it can punish you with cash flow problems if you don't." "If your application is non-compliant, you're basically volunteering not to be paid." "Clause 50.4, The Quiet Assassin...if you miss your application date, you don't just get paid slightly late because you applied late. The contract says that you get nothing." "Defined cost can be weaponised via audits if you don't have good records of what people were doing and when they were doing it." "A defective notice could mean that you're entitled to full payment of your application without any deduction." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 121 of The Subcontractors Blueprint podcast, host Jacob Austin continues the NEC contracts mini-series, providing construction business owners with practical guidance on managing NEC subcontracts. This week he explains the importance of time risk allowances (TRAs) and different types of float—free, total, and terminal—clarifying their roles, ownership, and impact on scheduling and compensation events. Jacob emphasises maintaining an up-to-date, accepted programme as a vital tool for managing risk, demonstrating entitlement to extensions of time, and minimising disputes. The episode offers actionable insights to help subcontractors protect their interests and improve project outcomes under NEC contracts. KEY TAKEAWAYS: Time risk allowances (TRAs) are essential in NEC programmes, acting as subcontractor-owned buffers for managing their own risks. TRAs must be clearly shown and allocated to specific activities rather than added as a lump sum, ensuring realistic and accepted project schedules. Float is divided into total, free, and terminal types, with total and free float being shared resources and terminal float exclusively benefiting the subcontractor. Regularly updating and gaining acceptance for the programme transforms it into both a management tool and a contractual benchmark for assessing delays and compensation events. Maintaining an accurate, accepted programme strengthens a subcontractor’s negotiating position, protects entitlements, and helps prevent disputes. Treating the programme as a living document enables proactive risk management, clear demonstration of progress, and fair compensation for delays. BEST MOMENTS: "A program with zero allowances is likely to be optimistic and could be deemed not practicable or unrealistic, and that is a reason for non acceptance of your programme.” "By showing TRA, you're demonstrating that you built in time buffers for your own risks and thereby increase the confidence that plan completion can be achieved by the date you're saying." "A well maintained programme also builds your credibility. If the contractor sees that each update is thorough and good and honest, not only are they more likely to accept them without a dispute, but it means when it comes to assessing a compensation event, they're more likely to trust your assessment of it." "The NEC mantra is that the programme is a management tool, not just a contract requirement." "If you treat the programme as your friend, invest time in it, invest effort in it, then it will pay you back by minimising disputes and helping you to secure your entitlements against changes." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 120 of The Subcontractors Blueprint podcast, host Jacob Austin continues the NEC contracts mini-series, providing construction business owners with a comprehensive guide to program clauses under NEC4 subcontracts. He explains the critical requirements for program submission, acceptance, and ongoing updates, highlighting their impact on cash flow, entitlement protection, and project management. Jacob discusses practical strategies for ensuring compliance, avoiding payment penalties, and maintaining control over compensation events. This episode is essential listening for subcontractors seeking to strengthen their NEC4 contract administration and safeguard their business interests. KEY TAKEAWAYS: The critical role of the program in NEC4 subcontracts, detailing how it underpins project planning, change management, and subcontractor protection. NEC4 requires programs to include key dates, milestones, logical sequencing, float, time risk allowances, and necessary inputs from other parties. The distinction between planned completion and contract completion dates is emphasised, with terminal float serving as a buffer for subcontractors. Submitting a compliant program on time is essential, as failure to do so allows the contractor to withhold 25% of payments until an acceptable program is provided. Program acceptance and rejection are governed by strict contractual criteria, and deemed acceptance occurs if the contractor fails to respond within set timeframes. Regular program updates are required to reflect progress, changes, and delays, ensuring the program remains a reliable management tool and protects subcontractor entitlements. BEST MOMENTS: “A well-managed program, and an accepted program, is absolutely central to administering the subcontract. It sets out how and when the work will be done.” “If there’s no current accepted program, the assessment of compensation events may be taken out of your hands—potentially leading to smaller time and cost compensation.” “By including key dates and requirements in your program, you are creating hooks within your program that the contractor or whoever else is going to snag on if they miss those dates.” “Acceptance of a program doesn’t stop you from having to achieve any of your obligations, and it doesn’t transfer any risk of those to the contractor.” “The goal here is to create a program that’s got clear and common reference points for both parties- it allows the contractor to verify the feasibility of your program and to see your needs and your constraints.” Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 119 of The Subcontractors Blueprint podcast, host Jacob Austin continues the NEC contracts mini-series, focusing on key obligations for subcontractors. He explains the importance of acting in a spirit of mutual trust and cooperation, details core responsibilities under the 10, 20, and 40 series clauses—including quality management, design duties, and defect handling—and emphasises proactive communication and collaboration. Jacob also provides practical guidance on defect management, highlighting the impact on client satisfaction and future business. The episode offers clear, actionable advice to help construction business owners protect profitability and maintain strong contractor relationships. KEY TAKEAWAYS: The NEC contract’s foundation is acting as stated in the contract and in a spirit of mutual trust and cooperation, requiring both strict compliance and collaborative problem-solving. Subcontractors must deliver all works as defined in the scope, including any design responsibilities, key personnel, and coordination with others as specified. Meeting key dates is critical, as missing them can lead to liability for additional costs or delays impacting other trades. Subcontracting parts of the work requires contractor approval, and the main contractor manages you—not your sub-subcontractors. A robust quality management system is mandatory, with clear procedures for inspections, testing, and defect correction as outlined in the contract and scope. Defects must be reported and corrected within specified periods, with uncorrected defects potentially leading to deductions or negotiated credits, emphasising the importance of proactive communication and client satisfaction. BEST MOMENTS: "The NEC’s core principle is that parties act as stated in the contract and in a spirit of mutual trust and cooperation." "Mutual trust and cooperation means openness, fairness, and tackling problems together—not hiding bad news or exploiting loopholes." "Key dates are critical—miss one, and you could be liable for the contractor’s extra costs or delays to other trades." "A quality management system isn’t optional; you must have documented procedures for inspections, testing, and approvals." "Defects must be reported and corrected promptly—unfixed defects can lead to deductions or negotiated credits, impacting your reputation and payment." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 118 of The Subcontractors Blueprint podcast, host Jacob Austin launches a mini-series on the NEC4 suite of contracts, focusing on the engineering and construction subcontract “ECS”. He explains the contract’s structure, main and secondary option clauses, and their impact on risk, pricing, and delivery. Jacob provides a practical checklist to help subcontractors review NEC4 subcontracts, emphasising the importance of understanding triggered clauses, design obligations, liability caps, and payment terms. This episode equips construction business owners with essential knowledge to manage contractual risks, protect profitability, and ensure project success under NEC4. KEY TAKEAWAYS: The NEC4 Engineering and Construction Subcontract (the "ECS”) closely mirrors the main contract, providing consistency and back-to-back risk management throughout the supply chain. Subcontractors must understand which main option (A–E) is used, as it fundamentally changes the allocation of risk and payment mechanisms. Secondary option clauses (W, X, Y, Z) tailor the contract to specific scenarios, and subcontractors need to review these carefully to understand their obligations and risks. Key processes like early warning and compensation events are designed to align with the main contract, promoting collaboration and timely communication. Subcontractors should always review the contract data and option clauses in detail to ensure their price and approach reflect all risks and requirements before signing. The NEC4 approach is user-friendly and flexible, but its customisability demands careful attention to detail to avoid unexpected liabilities. BEST MOMENTS: “As a subcontractor, you're operating in a framework that talks back to the main contract and feeds in to the main contractor's obligations to their client, so it reduces surprises and mismatches in timescales and obligations.” “The most collaborative tool within the main contract, the early warning process, is flowed down to you as a subcontractor as well.” “As you go through the options from A to E, you start with a situation where the subcontractor holds the biggest amount of risk through to option E, where the subcontractor holds the least amount of risk.” “It would certainly be sensible to discuss before you set off down a road that you both struggle to get to the end of, but you need to understand with this, the option isn't just a letter. It completely changes the feel and the nature of the subcontract.” “It's important that you appreciate what those letters and numbers mean because when you read the subcontract data for an NEC contract, it will list out all of the option clauses that apply to that particular subcontract.” Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 117 of The Subcontractors Blueprint podcast, host Jacob Austin provides UK construction business owners with a clear, practical overview of the Housing Grants, Construction and Regeneration Act and the Scheme for Construction Contracts. He explains key protections for subcontractors, including rights to interim payments, payment notices, pay less notices, suspension for non-payment, and fast-track dispute resolution through adjudication. Jacob emphasises the importance of written contracts but reassures listeners that statutory rights apply even without one. This episode empowers subcontractors to secure timely payments, maintain healthy cash flow, and confidently handle disputes in the UK construction industry. KEY TAKEAWAYS: The Construction Act and the Scheme for Construction Contracts provide crucial legal protections for UK subcontractors, ensuring fair and prompt payment. Subcontractors are entitled to interim payments, clear payment notices, and protection from unfair payment delays or reductions. Contractors must issue timely payment and pay less notices, or else the subcontractor is entitled to the full amount claimed. Subcontractors have the right to suspend work for non-payment and can claim extensions of time and reasonable costs for remobilisation. Statutory adjudication offers a fast-track, cost-effective way to resolve payment and contract disputes, even for oral agreements. "Pay when paid" clauses are generally outlawed, ensuring subcontractors are not left waiting for payment due to issues higher up the supply chain. BEST MOMENTS: "If the contractor misses that window or fails to issue a valid Payless notice, they can't by law short to pay you. And the law is really clear on that." "The law says that you can [suspend work for non-payment] without liability, meaning you won't be in breach of contract for stopping work in those circumstances." "Adjudication can be a game changer for subcontractors because it embodies that pay now, argue later ethos that we mentioned earlier by giving you a way to quickly secure payment or resolve disputes." "The Construction Act outlaws that, and any provision that makes your payment conditional on receipt of payment from a third party is ineffective." "Knowing these rules and asserting them at the right time will help you to ensure you get fully paid and on time for the work that you do." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 116 of The Subcontractors Blueprint podcast, host Jacob Austin explains the importance of the "golden thread"—a comprehensive digital record of building information now required under the Building Safety Act 2022. Using a real-world example, he highlights the risks of poor documentation and offers practical tips for subcontractors to organise, manage, and hand over essential compliance documents. Listeners learn what information to provide, legal obligations, and how embracing these practices not only ensures building safety and timely payments but also strengthens relationships with main contractors and secures future work. KEY TAKEAWAYS: The golden thread is a comprehensive, digital, and legally required record of building information, ensuring compliance, safety, and accountability throughout a project’s lifecycle. Subcontractors must provide accurate, up-to-date documentation such as as-built drawings, product data, test certificates, O&M manuals, and records of design changes to support project handover. Failing to maintain the golden thread can delay project completion, final payments, and legal building occupation, impacting both reputation and business relationships. The golden thread is expanding beyond high-rise residential projects, with many clients and contractors now treating it as best practice across all sectors. Effective golden thread management involves early organisation, clear communication with your supply chain, leveraging digital tools, and following main contractor requirements. Proactive, quality handover documentation not only ensures compliance but also builds trust and increases the likelihood of repeat work from main contractors. BEST MOMENTS: "The golden thread, essentially a comprehensive digital trail of building information, is evidence that your work complies with building regulations." "No structured handover = no completion certificate = no legal occupation." "The golden thread demonstrates first with the design, that the design is compliant, backed up by relevant specifications and performance data through the install." "The golden thread isn't just about bureaucratic red tape—it's about instilling accountability and pride in everybody's work." "Main contractors will start to remember the subcontractors who hand over quality information first time and without a fight." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 115 of The Subcontractors Blueprint podcast, host Jacob Austin explores the vital role of a Quantity Surveyor (QS) for construction subcontractors. He explains how a QS goes far beyond pricing jobs, acting as a commercial guardian by supporting contract negotiation, risk management, cash flow forecasting, cost control, payment applications, change management, delay claims, final account strategies, and dispute resolution. Jacob emphasises how leveraging QS expertise can protect your business, improve profitability, and ensure timely payments. He encourages listeners to subscribe the show for more information to strengthen their subcontracting businesses. KEY TAKEAWAYS: A Quantity Surveyor (QS) offers far more than just pricing jobs—they act as a commercial guardian, helping subcontractors protect profitability and manage risk. A QS can review and negotiate subcontract terms, identifying and advising against unfair or high-risk clauses before you sign, which is crucial for business protection. Risk management is a core QS skill, including creating risk registers, analysing potential pitfalls, and developing strategies to mitigate financial and contractual risks. Effective cost planning and cash flow forecasting by a QS help prevent cash shortages, keep projects on budget, and enable strategic financial planning. QSs play a vital role in cost reporting, change management, and ensuring accurate, timely applications for payment—maximising entitlements and minimising money left on the table. A QS supports dispute resolution, prepares for adjudication if needed, and provides commercial strength in negotiations, ultimately helping subcontractors build more resilient, profitable businesses. BEST MOMENTS: "A good QS can be like your commercial guardian, balancing their contractual knowhow, financial savvy, and onsite experience to protect your bottom line." "As I've said a few times on the show, after you sign, you're legally stuck with the obligations that you sign up to." "Less than 1 in 3 construction jobs ends up within 10% of its original budget, with the majority running over." "Properly managing changes is where subcontractors can either make or lose money." "These reviews are about catching problems before they snowball and capitalising on opportunities whilst they're fresh in everybody's mind." "If you're the kind of subcontractor who up until this point has been using QS just for estimating, you now know the full picture." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 114 of The Subcontractors Blueprint podcast, host Jacob Austin offers practical guidance on cash flow management tailored for construction subcontractors. He covers essential topics such as cash flow forecasting, stress testing finances, disciplined billing, client selection, and building financial reserves. Jacob also shares strategies for managing growth, handling seasonality, and preparing contingency plans for late payments. Emphasising the importance of team awareness and contractual safeguards, this episode equips subcontractors with actionable steps to enhance profitability, resilience, and long-term business stability in the face of industry volatility. KEY TAKEAWAYS: Cash flow forecasting is essential for subcontractors due to unpredictable payment cycles and the risk of late payments, helping businesses anticipate and manage cash shortfalls. Accurate and regularly updated cash flow forecasts (ideally on a 13-week rolling basis) allow subcontractors to project both inflows and outflows, identify potential crunch points, and make informed financial decisions. Stress testing cash flow forecasts by modelling scenarios such as delayed payments, reduced income, and increased costs helps businesses prepare for real-world volatility and avoid surprises. Maintaining discipline in billing and collections—prompt invoicing, strict tracking of receivables, and proactive follow-ups—prevents avoidable cash flow gaps. Building resilience through strong financial habits includes diversifying clients, controlling growth and overheads, planning for seasonality, and fostering cash flow awareness across the team. Establishing robust cash reserves and contingency plans (such as credit lines or invoice factoring) provides a safety net for unexpected shortfalls, while knowing and exercising contractual rights can help resolve persistent payment issues. BEST MOMENTS: "Cash flow is of vital importance and it's the lifeblood of any subcontracting business." "Cash flow forecasting is your early warning system for your financial health." "For subcontractors who endure unpredictable payment cycles, forecasting is essential for survival. "Maintaining discipline in your billing and collections sounds obvious, but it's actually quite a common mistake to have disorganised invoicing." "It's far better to have [contingencies] and not need them than to not have them when you ultimately need to rely on them." "In a nutshell, cash flow for subcontractors is all about being prepared and being proactive." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 113 of The Subcontractors Blueprint podcast, host Jacob Austin explains critical updates affecting subcontractors, taken from the recently adopted Procurement Act 2023. He details the new legal requirement for 30-day payment terms on public sector contracts, which now applies throughout the supply chain. Jacob offers practical tips for ensuring timely payments, highlights new transparency measures for checking clients’ payment practices, and discusses enforcement tools available to subcontractors. The episode empowers construction business owners with actionable knowledge to protect cash flow, enforce their rights, and make informed decisions about future contracts. KEY TAKEAWAYS: The Procurement Act 2023 enforces 30-day payment terms for all suppliers and subcontractors on public sector contracts. Contract clauses extending payment beyond 30 days are now void, with stricter enforcement than previous rules. Only valid, correctly formatted invoices trigger the 30-day payment clock; invalid or disputed invoices are excluded until resolved. Subcontractors can suspend work after seven days’ notice for non-payment and claim statutory interest or escalate via the Public Procurement Review Service. Large companies and public authorities must now publish detailed, twice-yearly reports on payment practices, including late payments and retentions. Subcontractors should use the government portal to check clients’ payment histories and avoid or negotiate with habitual late payers. BEST MOMENTS: "Every invoice from a subcontractor on a government job should be paid within 30 days by law, even if the contract itself didn't spell that out explicitly." "The law voids any contract clause that tries to lengthen payment terms beyond that 30 day limit." (For public sector contracts) "You have always got your statutory right under the Construction Act of suspending performance after seven days of notice." "The PRS are recorded as recovering £9 million in late payments just by suppliers escalating cases through their service." "This is all vital information for you to consider before you start working for a new client, a new contractor." "Late payment is no longer a norm that you need to tolerate to work in the industry, but a bad habit that needs to be exposed and got rid of." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to over £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 112 of The Subcontractors Blueprint podcast, host Jacob Austin provides construction business owners with practical guidance on navigating the JCT 2025 Target Cost Subcontract (TCC). He explains the key differences from fixed price contracts, highlights the importance of accurate pricing, contingency planning, and open book accounting, and addresses challenges such as disallowed costs, payment complexities, and cash flow management. Jacob emphasises negotiation strategies, meticulous record-keeping, and building trust with main contractors to protect margins and ensure profitability. The episode equips subcontractors with actionable insights to manage risk and grow their business under JCT TCCs. KEY TAKEAWAYS: Target cost contracts shift risk and reward from a fixed price model to a shared, open book approach. Subcontractors must be meticulous with pricing, record-keeping, and understanding allowable costs to protect their margins. Open book requirements increase administrative workload and introduce the risk of disallowed costs if not properly documented. Pain and gain share mechanisms can impact both cash flow during the project and final profit or loss at completion. Misunderstandings or mismanagement of target cost contracts can lead to disputes, so clarity and ongoing forecasting are essential. Success with target cost contracts relies on transparency, realistic risk assessment, and collaborative negotiation of terms. BEST MOMENTS: "Target costs aren't inherently good or bad at all. They're just a contract. They're a tool. They're a means to an end." "The number one rule is get it right before site. You want a target that is realistic and achievable, not a fantasy lowball number that's going to set you up to fail." "Ambiguity today is a potential dispute tomorrow and that's what we want to avoid." "Records, records, records. It's not glamorous, but it's got to be done to de-risk your payment and get your hands on your money." "Shared risk means if something is genuinely unforeseeable, you're not alone in carrying the can for the cost of it." "If you fail to document ten grand’s worth of costs, that could quickly become non-recoverable and come directly out of your profit." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 111 of The Subcontractors Blueprint podcast, host Jacob Austin reviews the new JCT Target Cost Subcontract 2024. He explains the fundamentals of target cost contracts, focusing on open book accounting, pain and gain share mechanisms, and contract flexibility. Jacob highlights the importance of detailed cost tracking, confidentiality, and proper management of contract adjustments. He also discusses the increased administrative demands of these contracts. The episode sets the stage for part two, which will cover risks, pricing strategies, and margin protection for subcontractors working under target cost agreements. KEY TAKEAWAYS: The episode introduces the new JCT Target Cost Subcontract 2024 and its relevance for subcontractors. Target cost contracts involve agreeing a target price, with actual costs reimbursed plus a fee, and differences shared between parties. Pain/gain share mechanisms incentivise efficiency but also limit the potential for extra margin and increase risk if costs overrun. These contracts require open book accounting, detailed record-keeping, and clear definitions of allowable costs. The TCC sub is flexible but brings extra administrative workload and complexity, especially in managing cash flow and risk. Next week’s episode will cover key risks, challenges, and strategies for pricing and protecting your margin under target cost contracts. BEST MOMENTS: "It's not the whole hog of cost reimbursement, but it asks the contractor to take a degree of risk in setting a lump sum price that they've then got to come in with a pretty narrow window of hitting in order to make any extra margin on it." "The idea is to get everybody aligned and pushing for the same outcome—everybody benefits from finishing cheaper, everybody suffers if it ends up pricier." "In effect, you lose 1% of your contract sum for every percent you go over the target." "Other common features of target cost contracts include an open book approach and pre-agreed definitions of allowable costs." "As the JCT puts it itself, the ethos of a target cost contract is risk sharing in a way that both the employer and the contractor can benefit from their joint efforts for a successful outcome." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 110 of The Subcontractors Blueprint podcast, host Jacob Austin brings you his Autumn ‘Case Law Coffee Break in which he reviews key UK construction law cases from April to September 2025. He covers crucial topics for subcontractors, including payment disputes, adjudication enforcement, contract variations, extensions of time, and liability for defective work. Jacob explains recent court decisions, highlights the importance of timely notices and precise contract language, and discusses the impact of the Building Safety Act. The episode offers practical legal insights to help construction business owners protect their interests, ensure prompt payment, and manage risk in today’s evolving legal landscape. KEY TAKEAWAYS: The Technology and Construction Court (TCC) and recent case law reinforce the “pay now, argue later” principle, making timely payment mandatory if proper notices aren’t issued, regardless of ongoing disputes. Challenging adjudicators’ decisions is only possible in exceptional circumstances; courts will generally enforce their rulings to maintain cash flow and avoid unnecessary delays. Written instructions—including informal emails—can constitute valid contract variations if they clearly communicate changes, as courts prioritise substance and intent over technicalities. Settlement agreements resolving disputes within ongoing projects are usually treated as variations to the original contract, meaning existing adjudication clauses still apply. The Court of Appeal clarified that “if X, then Y” notice clauses in contracts are binding conditions precedent: parties must strictly comply with notification requirements to preserve or enforce rights, as seen in the DBS v Tata case. A Supreme Court ruling confirmed developers can recover defect remediation costs from consultants even after selling the property, especially where public safety is at stake, and highlighted the extended liability periods under the Building Safety Act 2022. BEST MOMENTS: "If you don’t issue those required notices, you must pay the notified sum first before quibbling over the true value." "The bar for challenging an adjudicator’s decision is high and they’ll enforce adjudicators’ decisions in all but exceptional circumstances." "Variation clauses shouldn’t be applied overly technically—it’s about the effect and the intent of the instruction, not whether it uses the word 'variation.'" "If a clause says ‘if X you shall do Y,’ then the courts are likely to enforce it as a strict condition precedent to your rights." "Quality and safety responsibilities need to be taken absolutely seriously, because they can come back to haunt you decades later." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 109 of The Subcontractors Blueprint podcast, host Jacob Austin breaks down the current landscape of England’s housing pipeline, examining government targets to deliver 1.5 million new homes and the latest planning reforms designed to accelerate small and medium-sized developments, the recent decline in housebuilding rates, persistent planning delays, and the impact of building safety regulations—particularly for high-rise projects. Jacob highlights new opportunities arising from government-backed projects, frameworks, and funding initiatives that favour SMEs and MMC expertise. He also covers the importance of understanding NEC contracts, the benefits of “meet the buyer” events, and how to get noticed by main contractors. Tune in for practical tips to boost your visibility and win more work in a shifting market—plus Jacob’s candid take on the political and financial factors shaping the future of housebuilding in England. KEY TAKEAWAYS: The UK government has ambitious targets for new housing, but actual completions are down and planning delays persist, especially for high-rise projects. Recent reforms aim to speed up planning for small (up to 9 homes) and medium (10–49 homes) sites, with a focus on supporting SME subcontractors and MMC (Modern Methods of Construction). Subcontractors should track local planning approvals and approach SME developers early, offering their services and demonstrating relevant experience. High-rise residential work faces delays due to building safety regulations; subcontractors must strengthen their quality, competence, and compliance documentation. Government-funded projects increasingly require compliance with new standards (like CAS) and MMC expertise; up-skilling your team and showcasing relevant experience is important. Public sector frameworks and funding are creating new opportunities for SMEs, with improved payment terms (30 days) and more SME-friendly procurement processes. BEST MOMENTS: "The direction of travel is clear: Ministers want to put builders, not blockers, first, and they've promised to overhaul planning and unlock stalled sites." "Since the Labour government took office in 2024, the number of new homes recorded in England has fallen year on year, with one report suggesting a 10% drop in the rate of housebuilding." “Being an SME is a selling point in its own right these days." "If you've got that expertise in-house, then you can use that again as a selling point—perhaps develop some case studies that back your own abilities to work hand in hand with those MMC installers." "I might be adding two and two together and getting seven, but I suspect some political forces are at play here, and I wouldn't be surprised if the same is going to happen to our housing market.” Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 108 of The Subcontractors Blueprint podcast, host Jacob Austin covers the crucial topics of program float ownership and concurrent delay clauses in JCT subcontracts. He explains the risks subcontractors face when float ownership isn’t defined and how recent contract amendments can shift delay risks onto subcontractors. Jacob also discusses the impact of concurrency exclusions and offers practical advice on contract negotiation, program management, and risk mitigation. This episode equips construction business owners with essential knowledge to better protect their interests and profitability in today’s complex contracting environment. KEY TAKEAWAYS: Float ownership and concurrent delay clauses can significantly impact subcontractor’s risk and liability. Float refers to spare time in a program; under standard JCT contracts, float is unallocated, but amendments often allow contractors or employers to claim it, disadvantaging subcontractors. Concurrent delay occurs when both the subcontractor and contractor/client cause overlapping delays; industry practice (the Malmaison approach) typically grants time but not money for these. Recent contract amendments increasingly exclude extensions of time for concurrent delay, shifting all risk onto subcontractors and exposing them to damages even when not fully at fault. Subcontractors are advised to carefully review and negotiate contract terms related to float and concurrency before signing, to avoid hidden risks. Proactive program management, timely notices, and potentially pricing in risk can help subcontractors protect themselves from unfair contract amendments. BEST MOMENTS: "Industry practice has generally treated float as a shared project resource—whoever finds it first gets to use it." "Employers and main contractors have been dropping similar concurrency exclusion clauses into their contracts, and that decision has changed the game." "Heads the contractor wins and it's tails you lose." "Read your subcontracts to understand whether these kind of amendments are being made... here's your weekly reminder to read your subcontract before you sign it." "These aren't legal abstract toys that we're talking about. These are actual mechanisms that decide who pays for time." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 107 of The Subcontractors Blueprint podcast, host Jacob Austin reviews the key changes in JCT 2024 subcontracts, noting that while the update brings improvements like good faith duties and digital notices, main contractors are amending terms in ways that often increase subcontractor risk. He highlights areas such as stricter notice procedures, shorter extension of time windows, creeping design obligations, and tweaks to payment, damages, and design related roles. Jacob urges subcontractors to watch for hidden risks in amendments, ensure compliance, and keep thorough records to protect their interests under the new JCT 24 framework. KEY TAKEAWAYS: JCT 2024 is an evolutionary update, adding good faith duties and enabling email/e-signing for notices. Main contractors are amending subcontracts in ways that often increase risk for subcontractors. Tighter extension of time timescales mean subcontractors must keep excellent records and respond quickly. Watch for “fitness for purpose” design obligations sneaking in, as they can invalidate PI insurance. Liquidated damages and payment terms are being tweaked, so review caps and compliance with the Construction Act. Some amendments try to shift building safety duty holder roles onto subcontractors, raising compliance risk. BEST MOMENTS: "The introduction of a spirit of trust and respect doesn't mean you shouldn't respectfully gather your records and submit notices when you need to." "If it's not a valid notice, you probably lose the claim." "Any whiff of fitness for purpose can strip out the validity of your PI insurance, especially with fire and cladding exclusions." "This is your opportunity to have a sensible conversation with the contractor about what they should be able to deduct from you if you get things wrong." "The standard form might be the pitch. The schedules of amendments are where someone quietly moves the goalposts, narrows the crossbar and increases the size of the goalkeeper's hands." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 106 of The Subcontractors Blueprint podcast, host Jacob Austin concludes a mini-series on scaling subcontracting businesses by winning larger projects without overstretching. Aimed at construction business owners, this episode highlights seven common pitfalls SME subcontractors face—such as cash flow issues, program overruns, and quality control—and offers practical strategies to avoid them. Haile emphasises the importance of planning, monitoring, communication, and reputation management, providing actionable advice to help subcontractors grow sustainably and confidently tackle bigger contracts while maintaining strong industry relationships. KEY TAKEAWAYS: Taking on bigger projects can boost growth for SME subcontractors, but comes with significant risks and challenges. Cash flow bottlenecks are the most common pitfall, so proactive planning and prompt billing are essential. Program overruns and poor cost tracking can erode profits—monitor progress and costs closely to stay on course. Don’t overstretch by juggling too many large projects at once; know your limits and build capacity gradually. Maintain strict quality control and thorough paperwork to avoid costly rework, disputes, and legal issues. Reputation matters—handle setbacks professionally and focus on building trust to unlock future big opportunities. BEST MOMENTS: "Revenue is vanity. Profit is sanity. Cash is reality." "You can't make adjustments if you don't know you're off course." "Little mistakes can multiply. If your quality control isn't right, you could end up having to rework or spending a lot of time with excessive snagging." "Don't let short term desperation undermine your reputation." "Many large contractors are actually keen to bring small and medium enterprises up through the ladder and up into bigger work." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 105 of The Subcontractors Blueprint podcast, host Jacob Austin shares practical strategies for subcontractors tackling larger projects. He covers key areas such as workforce planning, hiring, supervision, supply chain management, quality control, cash flow, and leveraging technology. Jacob breaks down how to scale your team, manage suppliers, control costs, and maintain profitability as your business grows. The episode offers actionable advice to help construction business owners navigate the complexities of bigger contracts, avoid common pitfalls, and build a sustainable, high-performing operation. Perfect for subcontractors aiming to grow their business with confidence and control. KEY TAKEAWAYS: Workforce Planning: Assess your current team’s capacity and consider options like hiring, using agency labour, or sub-subcontracting to meet the demands of larger projects. Supervision and Training: Ensure you have adequate supervisory staff and invest in upskilling or training to handle increased complexity and compliance requirements. Avoiding Burnout: Delegate tasks, avoid overextending your core team, and consider hiring admin support to keep key staff focused and prevent burnout. Managing Labour Costs: Plan and budget for increased wages and incentives, and explore non-financial benefits to attract and retain talent without eroding profit margins. Supply Chain and Logistics: Communicate with suppliers about increased needs, plan for storage and delivery logistics, and ensure quality and reliability as order volume grows. Cash Flow and Systems: Monitor cash flow gaps, make use of technology for project management, and rigorously track costs to inform future pricing and avoid financial pitfalls. BEST MOMENTS: “One mistake with scaling your business is waiting until you’re absolutely desperate to hire and then taking whoever’s available, even if they’re underqualified or they’re a bad fit for your business.” “A knowledgeable, happy workforce is more productive and you’ll need more productive when you get working on a bigger job.” “It’s all the more important when projects are bigger and more complex, to track costs and collate information in a way that you can learn from it and inform future tenders.” “Burnout can be real. A common pitfall for SMEs taking on big work is that the core team start working crazy hours trying to keep up with the demands of a job.” “With good planning and good management, what you’ll find is that your small team can achieve mighty things.” Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links
In episode 104 of The Subcontractors Blueprint podcast, host Jacob Austin celebrates two years of the podcast and continues his mini-series on business growth for subcontractors. He provides practical guidance on commercial and contractual considerations when taking on larger projects, including contract terms, insurance, bonds, safety, and quality standards. Jacob highlights the importance of understanding every contract detail, managing risks, and staying compliant with industry trends like sustainability and local supply chain commitments. The episode is packed with actionable advice to help construction business owners protect profitability and successfully scale their operations. KEY TAKEAWAYS: Larger projects bring more complex contracts and higher risks for subcontractors. You must read and understand your contract! Always understand your contract’s scope, timeline, and payment terms before signing. Proper documentation and following procedures are essential for getting paid and managing changes. Ensure you have the right insurance, bonds, and safety accreditations for bigger jobs. Focus on quality, safety, and social value as bonus points to win work and grow your business. BEST MOMENTS: "If you look for nothing else when you read the contract, look for the Holy Trinity: What am I doing? When have I got to do it by, and how much do I get paid and when?" "Winning a larger project isn’t just about doing more work—it often will mean signing up to more complex contracts and fulfilling more commercial requirements." "There is no benefit to be gained in rigidly sticking to what you want to do if it doesn’t get you paid." "Change is the only constant, and that makes it vital for you to know how to deal with it when it happens on your job." "Demonstrating good safety and coordination will mark you as a reliable partner for the contractor on future work, particularly if you underpin that by delivering." Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, and Kier. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links