article thumbnail

How To Protect Your Construction Company From Bankruptcy

Contractor Bookkeeping

Learn the top reasons why small businesses end up in bankruptcy and what you can do to prevent that from happening to you. Poor cash flow Not bringing enough money in is the main reason why businesses fail. You must have more money coming in than is going out, or you're on the express train to bankruptcy.

article thumbnail

$170 million down the drain: Lessons to learn from Quirky’s bankruptcy

Construction Marketing Ideas

The quirky.com website (scrolling down from the bankruptcy notice at its top.) The bankruptcy notice. This business managed to blow $170 million in venture capital in less than seven years. It had some of the best and brightest minds in the business. Alas the idea didn’t work.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Transforming Construction Payments: Autodesk's Strategic Move with Payapps Acquisition 

Autodesk Construction Cloud

Despite this, both general contractors and subcontractors struggle with the complexities of the payment process and face significant cash flow obstacles. Time and time again, I hear about contractors’ frustrations and struggles with late payments and cash flow and how it negatively impacts their businesses.

article thumbnail

Contractor Cash Flow Problems Caused By A Bookkeeping Troll

Contractor Bookkeeping

He needed help deciding to close his business, file bankruptcy and go to work for a competitor as a superintendent or turn his business around and make a go of it. Later that day he tried using his credit cards to buy gas and they were all declined. At that point he knew something was very, very wrong.

article thumbnail

Construction Company Recovery After A Financial Setback

Contractor Bookkeeping

Almost all business sectors have experienced declining profits, liquidity that is drying out, and even bankruptcy. Your finances are negatively affected, and it's up to you to lead the recovery.

article thumbnail

How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

The problem is high profit jobs have a way of turning into low or no profit jobs and in some cases they can bankrupt your construction company because you bid the project using whatever model you are accustomed to using and in the end you wind up with cash flow problems. Residential Remodel Contractor Building A Home.

article thumbnail

Chinese Military Hackers Charged with Disrupting U.S. Solar Market

Green Building Law Update

markets at prices below fair value, Wen and at least one other, unidentified co-conspirator, stole thousands of files including information about SolarWorld’s cash flow, manufacturing metrics, production line information, costs, and privileged attorney-client communications relating to ongoing trade litigation, among other things.

Cash Flow 120