Inflation is more than a buzzword for specialty contractors.
Construction material costs are rising along with high fuel prices, affecting lead times and project success. Contractors report that supply chain disruptions impact inventory and their ability to forecast for
In the State of New York, contractors working on certain residential projects need to have a good understanding of the NY Home Improvement Contracts Act. Under these statutes, on certain protected projects, there are a fair amount of rules and
Construction businesses that are looking to thrive would do well to pay close attention to the differences between residential and commercial construction projects. It’s common for companies to specialize in one type of construction—and companies that do both residential and
Construction projects rely on contractors completing the work they started and meeting the design intent. In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every
The federal government is allocating over a trillion dollars in funding for public infrastructure construction projects over the course of the next decade — and a whole lot of that funding is going to go directly to individual states. Washington
Construction contractors face potential loss with each project they take on. When a loss occurs, it can put a real crunch on a contractor’s cash flow. Large losses have the potential to bankrupt a company or cause them to close
Just like many other states across the country, California is stepping up its commitment to infrastructure. On May 13, 2022, Governor Gavin Newsom announced that the state’s proposed budget would include $37 billion to “rebuild California,” with money allocated for
In the construction industry, starting a new project means encountering automatic, upfront costs. How individual specialty contractors handle these costs vary, but as the saying goes, “Cash is king.” From buying materials to hiring crews, business begins when cash flows.
As a contractor, you may have realized that taking care of every detail will not be enough as there are always going to be risks associated with your work. Whether it’s the risk of an unexpected accident or a project
Following the lead of numerous states across the country, Texas is upping its commitment to major public infrastructure projects: A May 2022 release from the City of Austin laid out plans for $400 million in construction at the Austin-Bergstrom International