Have you ever started a project, only to realize that you’re short cash to pay for the supplies until your last project pays out? Or, you’re having to move funds from your personal account to cover payroll until the contract money comes in? Effectively managing cash flow is an important part of any business – […]
Category: Contractor Chronicles
Job costing is the backbone of any construction project’s profitability, and how well you manage this process can make or break the bank on a project. However, construction companies often struggle to properly job cost and manage this area due to the unique nature of the industry. Material, work, and labor can all combine to […]
The 2020-2021 tax season is unprecedented for many reasons, and it’s forcing many business owners to take a closer look at their tax situation with their CPAs to ensure all available opportunities are optimized. Much is still up-in-the-air when it comes to presidential tax plans, future pandemic relief, and fluctuating economic strain, but construction companies […]
The COVID-19 pandemic continues to hold a firm grip on the marketplace, and many businesses are beginning to feel the COVID fatigue. As the complications from the pandemic continue well into 2021 for both contractors and their clients, construction firms will want to consider all the available funding options to help keep businesses operational during […]
Construction firms preparing for 2021 will want to be aware of potential challenges in the industry and ways to manage their cash flow in the face of those challenges.