46
Feature
Money Advice Trust- The stigma around debt: A topic that no one wants to talk about.
IN late 2024 we identified that almost 15 % of callers to our frontline service Business Debtline operated in the construction industry- with the average debt reported by customers to be over £ 49,000. This worked out as Business Debtline supporting over £ 247 million worth of business debt in the construction industry in 2024. This was without any promotion of Business Debtline within the sector; people across the industry were already finding us and accessing support.
Since then, we wanted to see how many more people we could help, so have worked diligently with stakeholders, such as the BMF, across the sector to raise awareness of Business Debtline. As a result, in 2025 more than one in five( 22.6 %) of all those contacting Business Debtline for support came from the construction industry. But there is still lots more to do.
As part of our strategy to increase awareness, we have attended Builders Merchant Federation regional meetings, met with merchants, suppliers and trade associations and built relationships with other charities within the sector.
We also spoke at Construction Week where the topic of our breakout session was‘ insolvency in the supply chain’.
Perhaps understandably, in a competitive environment our audience was extremely small.
Debt and financial hardship is still a topic that no one wants to talk about. Feelings of shame, embarrassment and fear of judgement from others still prevent many people from seeking the help that they need.
With financial pressures such as late payments and cash flow issues often cited as a contributing factor to poor mental health in the construction industry, it is vital that those who need it know that there is help available.
That’ s where Money Advice Trust’ s services come in. No small business owner should face financial difficulty alone. Business Debtline offers free debt advice to customers who are selfemployed or who otherwise run a small business. Business Debtline advisers give people advice over the phone, online or via webchat. The service is completely free, independent and confidential. Its advisers are there to help, not judge. This means that small business owners can be supported to deal with their debts, manage their finances and improve their overall situation.
So how do we help?
People who contact Business Debtline present with eight debts on average. The advisers look at each person’ s situation individually and help them work out a business and personal budget to realistically plan for tackling their debts. The service provides expert advice, information and resources to help people negotiate repayments and empower them to deal with their creditors themselves. This is alongside advice about managing a business effectively which can help people continue to trade and maximise their income.
Business Debtline’ s approach and expertise means that any repayment plans or arrangements that are put in place are much more likely to be sustainable, resulting in improved outcomes for both the small business owner and the creditor organisation.
After speaking to an adviser, 85 % of Business Debtline customers feel less likely to be in a similar situation again while 79 % report completely, mostly or partly resolving their situation. Of those who went on to make a payment arrangement, 66 % made all agreed payments, with a further 20 % making the majority of payments, ultimately reducing their debt burden. The impact on mental health is clear with 75 % of customers reporting a positive impact on their emotional or mental health, six months on from an interaction with a debt advice specialist.
Jenni Buckland, Partnership Manager at the Money Advice Trust commented:“ Our specialist advisers provide expert debt advice to the small business owners we serve, and this often proves lifechanging. However, we know that for those facing financial hardship there is often further help needed. We are setting up active referral partnerships with charities within the sector, to ensure that the support that we offer is truly holistic. We want to continue to work in partnership with the Building Materials sector to help even more people and small businesses in financial difficulty.”
For more information or to share your thoughts, please contact Jenni on jenni. buckland @ moneyadvicetrust. org.
Business Debtline is run by the charity, the Money Advice Trust, and provides free, impartial debt advice for selfemployed people and small business owners.
Tel: 0800 197 6026 or via www. businessdebtline. org.
46