construction
Retainage has long been a contentious practice in the construction industry. Unfortunately, it appears unlikely to disappear anytime soon. The good news is that by recognizing and planning for the…
Many small to midsize construction businesses struggle with bonding capacity. You’ve likely tried to stick to long-standing, surety-pleasing practices such as presenting accurate estimates and staying on friendly terms with…
Dealing with change orders is an unavoidable part of running a construction business. Although often disruptive, they can actually be golden opportunities to increase project revenue. Unfortunately, many contractors lose…
Cash flow management is a critical tool for any business. But it’s especially important for construction companies, which operate in a notoriously slow-paying industry. Read on for some useful tips…
Is your construction company struggling to attract and retain quality workers in today’s tight labor market? A well-designed incentive compensation program may help. The right approach can increase productivity and…
When a business valuation is needed, many contractors want a quick answer. That’s understandable. But an overly simplistic approach can create a false sense of certainty, especially in an industry…
For contractors running small and midsize construction businesses, even a single major conflict can turn an otherwise profitable job into a financial loss. The good news is that most disagreements…
Selling your construction business is likely one of the biggest financial moves you’ll ever make. And you’ll probably have only one opportunity to get it right. To maximize your return…
As construction companies grow, their accounting systems need to evolve right along with them. What worked in the early years may no longer provide the visibility or functionality necessary for…
The federal Qualified Opportunity Zone (QOZ) program incentivizes investment in designated low-income communities (or “zones”) across the United States. The One Big Beautiful Bill Act (OBBBA) updated the program and…
Every company is a team effort, but construction businesses really depend on teamwork. Everyone must come together to win profitable jobs, complete them to the highest quality and quickly move…
Like most construction businesses, yours probably invests in physical assets regularly. These may include equipment, vehicles, and computing devices and software. If so, you’ve probably been keeping an eye on…
Construction is a high-risk industry. Many contractors convert their businesses to C corporations to avoid personal liability for financial claims against their companies. Although doing so makes sense from a…
In today’s challenging real estate and construction landscape, many borrowers face pressure on loans tied to property development, investment, and rental operations. When the market shifts, property values fall, and…
A 2024 survey conducted by consultancy FMI in partnership with the Construction Financial Management Association found that 58% of contractors who responded didn’t have an “ownership transition plan” in place.…