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The Secret Sauce to Protecting Construction Profits  

Autodesk Construction Cloud

Bank failures, rising interest rates, high material prices, and labor crunches are all making it more challenging for construction companies to protect, let alone, improve their margins. By taking proactive steps and adopting the right tools, you can mitigate and safeguard your firm’s profits. And the pressure is rising.

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4 Contractor Do-It-Yourself Bookkeeping Flaws Exposed

Contractor Bookkeeping

As a construction business owner, you operate in a multi-faceted changing environment doing the impossible with limited time, money, and resources on every project, and soon as one is finished, another one is waiting for you. You are highly skilled, intelligent, and adaptable.

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The Seven Ages of a Business

Constructonomics

It’s also moved into that fancy commercial property in Mayfair , but money is still in short supply and it’s vital to conserve resources. Management becomes more formal and accounting needs to be stronger; money comes more from profits, banks and franchising options than from family. The growth stage. The established stage.

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Proven Reasons Why Contractors Lose More Money Doing Their Books

Contractor Bookkeeping

That is a given because you operate in a multi-faceted changing environment doing the impossible with limited time, money, and resources on every project. As a construction or trade contractor, you are highly skilled, intelligent, and adaptable. Moreover, soon as one is finished, another one is waiting for you.

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Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. The really good news they are on the banks payroll.

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How to Deal with Extended Lead Times and High Material Costs

Levelset

According to the 2022 Construction Cash Flow & Payment Report , construction businesses reported slow payments contributed to wasted resources (45%), reduced profit (41%), and failure to meet payroll (18%). . Add in slow pay, and you have a business in jeopardy of closing its doors.

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Construction Business Owner Blogs

Construction Business Owner

Resource Center. Bank lines of credit are lifelines for many contractors, yet convincing a bank to provide or renegotiate a line of credit is not easy. Building your case beforehand can certainly help and makes you look better in the eyes of the bank. Crunch the numbers – Banks like proactive business owners.

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