Why SME's Should Have CP6 on Their Radar
The release of the £47bn CP6 investment will be central to our upcoming event in March of next year. The CP6 Launch is designed to attract a dynamic mix of industry contacts as we continue to encourage a diverse audience to discuss the major funding that's available.
As always our events champion key rail industry figures, providing the opportunity for quality networking. The launch in Liverpool is a great chance for SMEs to attain some of the CP6 spend of which the largest share of almost £6bn is allocated for the London North-western route.
SMEs Current Climate
SME optimism was scrutinised by Amazon UK and Enterprise Nation earlier this year in their effort to uncover growth prospects and attitudes towards the UK economy. The London School of Business and Finance revealed bleak results. Whilst those in the financial service industry are feeling positive, of over 1000 businesses that were reviewed in this study, SMEs in all other sectors express scepticism about their business conditions for the coming year.
As the current climate for SMEs proves difficult, the need for SME leaders to focus on the mobility and security of their business is crucial.
How CP6 is Geared Towards SME Support
The five-year plan will attempt to refocus the strategy for CP6 to address the previous issues of workflow to improve the public perception of the rail service. However, contractual changes made for subcontractor benefit mean that CP6 is dedicated to equal support throughout the supplier chain. Following the Fair Payment Charter which was signed in 2011, this new release of funding follows the intent to support, promote and apply the expressed principles for payment standards.
Stephen Blakely, Commercial Director of Network Rail claims the changes will make a significant difference to smaller suppliers in particular, who rely on regular cash flow to operate successfully. Whilst Network rail have admitted its in their interest to have a sustainable supply chain at all levels, the biggest difference will be to subcontractors who will now receive required payment within 28 days. The outcome is what The Construction Index have named as a new era for subcontractors on the railways.
Get Involved at Our Launch
The positive outlook for SME stability means there is no better time for conversation about change and success in rail.
As a networking events specialist, we recommend networking all year around by frequently discussing the benefits on our blog. However, the opportunity to develop business partnerships at a defining moment for all suppliers is invaluable.
You can still sign up for our event in March to attend the industrys leading introduction into CP6.
Published: 29th September 2018