When it comes to growing a construction company, there are two routes to take: take bigger projects or take more projects. For many contractors, their growth plan includes taking on jobs in different states. Whether it’s to take a one-off
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General Contractor Insurance: What You Need and Why
Insurance protects companies from risk — and general contractors have many risks involved in their work. Some companies may try to save money by not purchasing insurance. This works, until there’s a problem, and then the company pays for it.
What Is a Contractor Bond?
Construction is one of the most highly regulated industries, and there are tons of requirements that contractors must meet. One such requirement is securing a contractor bond, which many states, counties, and cities require in order to obtain a license.
How to Handle a Renovation Boom: 9 Growth Tips for Remodeling Companies
Homeowners are spending more time inside due to COVID-19, and many are considering renovation projects as a result — and the current renovation boom may make it harder for the construction industry to keep up.
In 2021, 84% of homeowners
Construction Communication: 9 Tips to Reduce Delays & Get Paid Faster
Communication is difficult in construction mostly because of preconceived ideas, misguided assumptions, and bad habits. Not asking for change orders is a bad habit; assuming that your GC will respond negatively to a payment reminder is a preconceived idea. It
Best of 2021: Top Construction Lawyers in Miami
Miami is consistently one of the country’s fastest-growing cities, keeping construction companies busy year-round. But despite booming business, contractors in The Magic City carry a lot of legal risk. The building industry is complex, and disputes over payment, delays, or
How to Calculate & Manage Working Capital in Construction
Effective evaluation and management of working capital is a critical component of construction business management and a primary determinant of success for many contractors. In this article, we will discuss what working capital is, why it’s important for construction businesses,
From Spreadsheets to Software: How a Contractor Cut Time Spent on Paperwork in Half
West Coast Drywall and Paint is a highly-rated subcontractor in Southern California. Their Chief Financial Officer (Keith Caneva), Controller (Julie Hammack), and Contract Administrator (Elizabeth Gonzalez) all have a lot on their plates when business is booming, as it often
How to Successfully Transition From Spreadsheets to Lien Rights Software
If you work in credit, chances are you are deep in spreadsheets, many spreadsheets, all day, every day. Spreadsheets can be great — especially if you’re an Excel whiz and can make them do all sorts of advanced calculations. But,
Are Promissory Notes an Effective Collection Tool in Construction?
If you’ve been in the construction industry for any length of time, you know it can take a long time to get paid. While a mechanics lien is the most effective payment tool available to construction businesses, it’s not