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3 cash flow forecasting tips for your next big construction project

Viewpoint Construction Technology

Effectively managing cash flow is critical for contractors’ success. Considering these complexities, it’s easy to understand why, throughout the life of a project, a variety of things can change — directly impacting the original cash flow forecast. Create Rolling Enterprise Cash Flow Forecasts.

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How to Increase Cash Flow for Your Construction Business When You Can’t Get the Financing You Need From the Bank

Levelset

As a commercial specialty contractor, it can be frustrating to have the crew, time, and skills you need to take on construction projects but not enough cash to purchase materials. But when you take into account how long it takes for specialty contractors to get paid, it gets risky quickly, especially if you’re just starting out.

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7 Things Contractors Need to Know About Retainage

Fieldwire

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. The basics of retainage Retainage, also called retention, is an amount withheld from the contractor until a later date.

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Claritas Group went down owing £7m to supply chain

Construction Enquirer

The Kent based contractor confirmed earlier this month that it was heading for liquidation following cash flow and inflationary pressures. Claritas specialised in projects up to £70m across the residential, commercial and education markets. Latest accounts for Claritas Group for the year to March 31 2022 show a £50.4m

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4 Ways Materials Financing Can Help You Recession-Proof Your Business

Levelset

Managing cash flow in the construction industry is difficult in any economy, but during a recession, specialty contractors face even more financial challenges than usual. One of the most significant challenges during that time was the lack of financing for commercial construction companies.

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Claritas Group heading for liquidation

Construction Enquirer

Kent based contractor Claritas Group is heading for liquidation after being sunk by cash-flow and inflationary pressures. “The challenge of cash flowing and managing the losses associated with the inflationary pressures of these uncertain times was just too great. to trade creditors.

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Prevailing Wages in Minnesota: What Contractors Should Know

Levelset

In Minnesota, prevailing wage laws apply to state-funded construction projects that are over $2,500 with one trade contractor or over $25,000 with more than one trade contractor. Minnesota breaks its prevailing wage rates into two categories: highway/heavy construction and commercial construction.