Levelset helps contractors and suppliers get payment under control, facilitating smooth payments and successful projects.
Construction businesses need many different types of insurance to mitigate the risks associated with building projects. Two of the most common insurance policies that contractors have are builder’s risk and general liability, which serve very different purposes.
Builder’s risk insurance,…
Business owners can learn a lot about their companies by using key performance indicators, or KPIs. These data points provide insight into the profitability of a company and give owners an early indication of potential issues.
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European Paving Designs has provided labor and materials for paving projects in Washington and California for over 40 years. In 2012, the company decided to partner with Levelset to streamline its payment process and better protect itself from risk.
After…
To grow a construction business, contractors often pursue larger projects. However, larger projects come with greater risks and additional challenges. Some contractors watch as their gross profit margins decrease when they take on larger jobs. Large, multi-year projects are also…
In the construction industry, where credit is an integral part of companies’ processes, credit teams have to assess the creditworthiness of their customers individually, and it’s neither a straightforward nor simple process. In fact, many contractors and credit managers…
Construction insurance can be confusing. Each contractor and party to the project has their own insurance, which may or may not be adequate to protect the work they’re performing. With so many policies on a project, there’s a good chance…
There’s a lot to think about when it comes to starting your own architectural firm. It can be scary just to think about the amount of work and the risks involved. We spoke with Lucas Gray, a business consultant…
Running an architectural firm is a bit different than other companies in the construction industry. You’re providing a service to your customers, but your contracts are often lump-sum, and billings are often determined by the percentage of completion.…
Construction is booming, so more workers are needed to help meet the industry’s high labor demands. Yet many construction companies struggle to find and retain a top-notch labor force.
The construction labor shortage and escalating inflation are causing stress and…
Construction companies need capital to get off the ground, stay in business, and keep growing. The term capital is used across industries to represent all of a company’s financial assets, including cash, inventory, equipment, and more.
Several different types of…
