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Seven Traits of Profitable Specialty Contractors

Fieldwire

Anyone who has managed a construction company, department, or project knows profitability can be challenging. Intense competition, fluctuating market conditions and other factors often result in tight profit margins. Even with numerous challenges, specialty contracting can be profitable. In-Demand Expertise.

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Your People Are the Secret to a Higher Profit Margin

Construction Business Owner

When the construction markets crashed in 2008, many workers in the skilled trades left to pursue employment in an industry with a more stable outlook. One of the greatest challenges business owners face in the current economy is finding and hiring quality employees.

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Former staff at collapsed groundworks firm win payout

Construction Enquirer

Their case was taken up by legal specialist Nualaw who secured a protective award after an employment tribunal accepted Ellicon failed to consult on the redundancies as it went into administration. generating a pre-tax profit of £338,000 and employed 86 staff.

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How to Prioritize Your Business Goals

Construction Business Owner

However, during our conversations together, we found there to be one common denominator: They are all busy, but they are all not earning profits at the pace they could be.

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How to Use IoT to Create Safer & More Lucrative Projects

Construction Business Owner

By failing to capture, unlock and employ insights from one project to the next, owners and contractors miss out on a critical opportunity to make the industry safer, more efficient and, ultimately, more profitable.

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Adopting Labor Operations Software for Contractors

Construction Business Owner

Adopting software doesn’t mean you have to change processes or workflows — it’s about enhancing them with automation, reporting, historical record keeping and bulk actions that improve your business performance and profitability.

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3 construction industry trends in 2023

Lets Build

The same issues plaguing the industry last year—labour shortages, supply chain disruptions, high material costs, lower profit margins, etc.—followed These challenges will likely result in even smaller profit margins in the months to come. More to read: How technology can help you maintain your profit margins at residential projects 2.