How to run a leaner, more profitable construction business
Lean construction principles focus on reducing waste, improving workflow and making better use of key resources such as labor, materials and equipment. And you don’t necessarily have to undertake a complete operational overhaul to implement them. By identifying and correcting … Read more…
3 critical questions to ask when acquiring construction equipment
Acquiring equipment is a major strategic decision for small to midsize construction businesses. It affects everything from bid selection to cash flow management to financial stability. Whether buying or leasing makes more sense depends on various factors. Here are three … Read more…
Contractors: How’s your succession plan coming along?
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. What’s worse, half of the construction business owners surveyed who … Read more…
How contractors can push back against high materials costs
Rising materials costs have become a persistent challenge for construction companies of all sizes. But they hit small to midsize businesses especially hard. Your profit margins can quickly shrink or vanish altogether when the price of lumber, steel, concrete or … Read more…
EDR bonds offer an intriguing alternative for contractors
Construction projects thrive on momentum. Unfortunately, disputes can derail even the most carefully planned schedules. And while traditional performance bonds provide financial security, they often leave the dispute resolution process open-ended. Expedited dispute resolution (EDR) bonds address this gap. These … Read more…
9 cash flow tips for construction businesses
With tariffs, interest rates and other factors continuing to drive economic uncertainty, cash flow management should be a top priority for construction businesses. Here are nine tips for better maintaining your company’s liquidity: 1. Stay on top of forecasting. Cash … Read more…
6 pertinent provisions of the OBBBA for construction companies
It’s been over a month since the One, Big, Beautiful Bill Act (OBBBA) was signed into law. Now that the dust has settled, construction business owners and their leadership teams can begin to really pinpoint the provisions most pertinent to … Read more…
Contractors can calculate KPIs, too
Successful companies of all stripes use key performance indicators (KPIs) to monitor their financial health and spot red flags. Well, you know what? Construction businesses can do it, too. And you should. Let’s review some of the most important KPIs … Read more…
Reviewing the look-back method for long-term construction contracts
Among the most common challenges of any long-term construction project are fluctuating job costs. However, variations in the cost of materials and labor over time aren’t the only cause for concern. Permitting issues, economic changes and evolving regulations can all … Read more…
The latest on occupational fraud in the construction industry
The construction industry has made great strides in overcoming the outdated perception that it’s rife with corruption. Unfortunately, the fact remains that contractors lose hundreds of thousands of dollars a year to occupational fraud. As formally defined by the Association … Read more…
