Follow the Money: Debt, Pay and Delivery
In retrofit, the way money flows decides whether the work gets done.
Debt-driven organisations
We’ve seen it in the NAPIT parent group: huge borrowings, huge annual finance charges. When you live inside that kind of structure, the first customer is the lender, not the installer or the householder.
In heavily leveraged groups, a lot of cash is absorbed by debt service and top-tier management costs, leaving less for front-line delivery.
Eight months ago we reported on backlogs at NAPIT. The latest accounts make it look less like a staffing mistake and more like a structural cash-drain.
Public-good organisations
Retrofit Academy was created to help grow the retrofit workforce. It is meant to be low-geared and service-focused: the money that comes in should go straight into training, not into servicing debt or funding boardroom packages. It's easy to rate performance with CIC rules governing a companies actions.
That’s the standard the sector should demand of any body that carries a public-service role - whether it’s accreditation, training or grant delivery.
Mission-driven delivery
Contrast that with HeatGeek’s approach. It has to stay profitable by making homes better: cut design waste, cut parts, prove efficiency, pass savings on. That’s what a healthy commercial business in this sector looks like - it earns its margin from the outcome it delivers.
The question to keep asking
“Are they clear about their purpose - public-service or commercial - and about how the money is spent?” - Forensic Audit Accountant
In a sector built on public trust, that question needs to be asked of every accreditation body, every training provider, and every installer-facing service.
Because debt-heavy structures and generous boardroom packages drain the very resources we need to train the workforce and keep homes warm.
If you believe in independent reporting on retrofit and have a story to tell - whether it’s about good practice or about things going wrong - get in touch with us; matt@refurbandretrofit.com.
There's a reason why we're the fastest growing resource in this sector. Trust.