The modern construction site looks different than it did 20 years ago, 10 years ago, and even 5 years ago. Technology and industry trends are driving developers to do things differently, from changes in high-level planning to finding ways to detect minute leaks. Check out these top six constructions trends that are changing worksites in… Read more »
Updated May 7th, 2019 Is your commercial construction business profitable? For many commercial construction companies, the answer is “Yes, I think so!” Due to the inconsistent nature of commercial construction, it is essential to build a healthy profit margin into each of your projects, and to know what the breakeven point is that will determine… Read more »
In the decade following the Great Recession, many American manufacturing companies have struggled to secure loans or lines of credit from traditional banks. As a result, a host of new and different lending options have sprung up to help manufacturers looking to expand, better manage their cash flow, purchase new equipment and more.
Manufacturing is an essential part of the American economy, supporting 8.5% of the country’s workforce. Of the nearly 252,000 businesses that work in manufacturing, 75% of them have less than 20 employees, according to the National Association of Manufacturers. For many small businesses, it can be difficult to find a loan, whether through a bank,… Read more »
If your company has more than a few employees, your revenue is growing, and you are juggling multiple jobs, it’s probably time to hire your own accounting personnel, preferably a Certified Public Accountant. A good accountant often pays for themselves in a relatively short amount of time. After all, finances need to be current and… Read more »
There are many ways to distinguish between different types of construction projects. For many businesses, especially when looking for a construction loan, it is important to understand the difference – and the grey areas – between two types of projects: Commercial Construction and Residential Construction.
Securing a commercial construction loan can be an arduous process if you aren’t prepared for it. There are multiple options for businesses looking for commercial construction financing, including contract financing, factoring, merchant cash advance/daily debit and SBA loans, but there is no standard set of requirements for what you need in order to apply.
A common commercial construction billing mistake companies tend to make is to delay submitting an invoice or pay application for the work completed during slow months. Construction companies, in most situations, have work schedules that ebb and flow as their jobs progress. Busy and slow months are inevitable. Federal holidays and poor weather conditions often… Read more »
Commercial construction contractors are in an almost impossible situation. The economy is booming, and public and private organizations are looking to build new offices, hotels, skyscrapers and more. But to make all that happen, organizations — and the general contractors they hire — depend on thousands of subcontractors who are willing and able to do… Read more »
There are many factors behind landing a winning bid. For upper-level commercial construction projects — especially for those lucrative government contracts — you have to prove that your company can complete the work for a competitive price and that you have the means to carry it through start to finish. A Financial Capability Letter can… Read more »