construction

7 Ways Construction Companies Can Address Materials Costs

Although the overall costs of construction materials nationwide have stabilized somewhat this year, many contractors still likely face challenges in this area. The price of specific types of materials continues…

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How Construction Business Owners Can Make Succession Planning Easier

Creating a comprehensive and actionable succession plan is rarely easy for business owners. It’s certainly a challenge for most contractors, who may find it difficult to step away from the…

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Profit Fade Is a Persistent Threat to Construction Companies

“Don’t settle for second best!” Just about everyone has encountered this phrase in various commercials and ad campaigns over the years, and it’s a good ideal to aspire to. Unfortunately,…

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Construction Business Owners: Prepare Now for Possible Tax Law Changes

The Tax Cuts and Jobs Act (TCJA) was signed into law in 2017 and generally took effect at the start of 2018. It brought sweeping changes to various aspects of…

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Construction Companies Should Keep an Eye on AI

Artificial intelligence (AI) has been receiving plenty of press coverage lately, some of it positive and some of it negative. The truth is, like many technological innovations, AI is both…

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Construction Business Owners: Avoid These Two Common Accounting Problems

For construction companies, accounting isn’t as simple as just balancing the books every month. Contractors tend to have multiple projects underway at various stages of completion and, ideally, more in…

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3 FAQs About the SBA’s Surety Bond Guarantee Program

Most federally funded projects and even some privately funded ones require contractors to obtain payment and performance bonds. Unfortunately, qualifying for those bonds can be a challenge for small construction…

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Why WIP Schedules Are So Wonderful

When evaluating the financial performance of a construction company, lenders, sureties and other stakeholders often want more than just an income statement, balance sheet and statement of cash flows. Although…

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Insuring Construction Projects Under a CCIP

Construction projects are inherently fraught with risk. That’s why having the right insurance in place is critical for all parties involved. For contractors, however, adequate coverage typically comes at a…

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Managing Your Construction Company’s Workers’ Comp Costs

In a physically intensive industry such as construction, injuries happen. For this reason, workers’ compensation insurance has got to play a critical role in your risk management efforts. From a…

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