6 ways contractors can better manage accounts receivable
Aging accounts receivable can hurt any construction business’s financial performance. And as you’ve probably experienced, it’s a common issue. Payments are often delayed by last-minute change orders, hefty retainage, project disputes and slow approvals. Here are six ways to better … Read more…
What’s in a name? DBA filings for construction businesses
The name of your construction business plays a critical role. It helps project owners find, recognize and ultimately trust you. But as your business grows, you may encounter situations where a different name better suits your strategic objective. Whether you’re … Read more…
4 Reasons Contractors Should Exceed Safety Expectations
Running a construction business requires compliance with the Occupational Safety and Health Administration’s (OSHA’s) many rules. But there can be a big difference between doing the bare minimum and building a robust safety culture that goes beyond basic requirements. Along … Read more…
Tempting targets: Contractors and cybersecurity
You might think your business is too “small potatoes” for cybercriminals to bother with, but that could prove costly. Construction businesses of all sizes make tempting targets for various reasons — not the least of which is that many contractors … Read more…
6 steps to an incentive compensation program for contractors
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 profitability while boosting employee satisfaction and company culture. However, you’ve … Read more…
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…
2026 Retirement Plan Contribution Limits, Phase-Out Ranges, and Income Limits
The IRS has released 2026 inflation-adjusted contribution limits, phase-out ranges, and income limits for various retirement accounts. (IRS Notice 2025-67) Contribution Limits 401(k), 403(b), and most 457 plans — For 2026, an individual can contribute $24,500 to a 401(k), 403(b), … 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…
