Blog
Working Capital for Construction Companies: Three Challenges and Solutions
Ensuring sufficient working capital for your construction company can be tricky. As a business owner, you know there are multiple challenges you may face on a regular basis that threaten the financial health of your company. Some of these challenges are unavoidable....
Is Invoice Factoring Right for Your Construction Company?
Construction companies with cash flow problems find that factoring invoices is a way to continue to grow their business, even with late-paying clients. There are many advantages to invoice factoring for construction companies, but there can be a few disadvantages as...
How Spot Factoring Can Solve Construction Company Cash Flow Problems
Spot factoring may be just what you need if you're experiencing a sluggish cash flow. Cash flow problems pose a serious threat to the health and continued growth of your construction company. Without a steady stream of cash coming in, it’s harder to invest in new or...
Construction Industry Trends To Watch For In 2021
COVID-19 has changed the construction industry forever. Scheduling, hiring, the types of projects investors choose to fund, and safety protocols while on and off site have all been affected. Yet, all these changes do not immediately spell out trouble for the industry....
Six Ways for Construction Companies to Thrive in a Recession
There are multiple industries that can easily survive a recession. Some even thrive during difficult times. History has shown that the construction industry is not typically one of them. In fact, construction is usually one of the hardest hit industries during...
How to Market Your Construction Business When You Have No Time
Most contractors are so busy working in their business they don’t have much time to work on their business. Pressing projects and deadlines often take precedence over marketing and growth, but without those two things, incoming work can quickly dry up. It will serve...
What Every Successful Contractor Should Know About Green Sustainable Construction
Are you prepared for the coming increase of sustainable construction projects? Demolition and construction create over 530 million tons of landfill waste each year. To put it in perspective, that’s double the amount produced from municipal solid waste. According to...
Duty to Proceed Clause – Do You Know the Implications?
During my last 12 years working for a global Engineering and Construction (E&C) business, I had the duty of managing contracts and contract risk as a P&L owner and business manager. In the group I managed, a large portion of the work was with the Federal...
Should You Hire a Bookkeeper, Controller or CFO?
Odds are, when you began your construction company, you either took on the role of accountant, or hired a friend or family member to be your bookkeeper. You may have tried to run your financial operations solo for years, but now you see that you can no longer operate...
What Do Banks Want When Considering Construction Contractor Loans?
When unpaid invoices leave your construction company in a cash flow quandary, where do you turn to get the money you need to invest in your next project or pay off business expenses? For many contractors, the immediate answer is to seek out a bank loan. This is...
Hire a Marketing Firm That Knows Your Business Sector
In today’s business world, if you’re not online, do you even exist? How can anyone find you? You’re practically invisible. It’s not enough to put up a website and wait for potential clients or customers to discover it. Marketing is what helps potential clients and...
Payables Financing- Using YOUR Money to Fund THEIR Project
How much do you really know about payables financing? Back in the good ole days, if you were a construction contractor, you could do work on a handshake and payment was due upon receipt of the invoice. You could expect payment within a few days. As time progressed,...