Ever-changing markets, rising cost of materials and increased labour shortages mean margins are tighter than ever in the construction industry. To save on spend, it’s time to work smarter, not harder, which is why we’ve put together some potential solutions that could help your budget stretch that little bit further.

1. Get technical

Despite being an initial expense, the latest technologies can be a sure way to improve productivity. And since time is money, getting your head around new project management software or Building Information Modelling (BIM) tools can be a worthy investment – helping to streamline processes and keep not just your projects on track, but your budget too.

2. Feed the talent pipeline

With labour in high demand, the bottom line can take a hit when you’re outsourcing work and paying over the odds. While more of a long-term fix, looking to take on an apprentice and spend time nurturing their professional development can be a great way of both attracting and retaining skilled workers. And in the meantime, you can keep wage costs to a minimum.

3. Expand circle

When times are tough, it can be tempting to close ranks - but collaboration is often key if you’re watching the pennies! By building relationships with other companies, you can mutually benefit from one other by making up for the resources, expertise and knowledge that the other lacks. You scratch their back, they’ll scratch yours… especially when you urgently need a specific tradesperson who doesn’t charge the earth!

Same goes for suppliers. By casting a wider net, you can reduce your reliance on just one single provider and put yourself in a stronger position to negotiate. Connecting with local suppliers is another great way to save on spend when you can cut travel and transportation costs too!

Every one of our RD4U Approved Stockists is dedicated to ensuring total value for money, so if you’re also in search of tools and accessories at the best possible price, find your local Stockist right here.