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. You must have more money coming in than is going out, or you're on the express train to bankruptcy. Poor cash flow Not bringing enough money in is the main reason why businesses fail.

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.

professionals

Sign Up for our Newsletter

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

article thumbnail

What Your Business Credit Report Tells Lenders

Pro Builder

Your business credit report also provides necessary information about your company, such as your business background, ownership and subsidiaries, financial information, any bankruptcies, risk scores, and banking, trade, and collection history. Lessons Learned From Previous Housing Market Disruptions.

Debt 52
article thumbnail

How to Protect Your Business When Employees Get Poached

Pro Builder

A decline in business from certain clients, or their bankruptcy. Model records of former employees for whom restrictive covenants have been unenforced, including the fact that the individuals returned all confidential information and agreed not to solicit customers serviced.

article thumbnail

Estimating- The New Normal

Chianelli Estimating

One error may be the difference in bankruptcy or staying afloat. Less opportunities. Too many contractors vying for the same job . More competition will force unrealistic costs. Low costs leave zero room for error. Increased time to complete projects. CHIANELLI ESTIMATING.

article thumbnail

Job Costing Accounting Vs. Regular Accounting

Contractor Bookkeeping

out when is the best time to grow and shrink the business based on economic forecasting models derived from your QuickBooks For Contractors reports. If the contractor believes the company is undercharging they may raise bid prices, lose jobs, eventually run out of cash and file bankruptcy. It is used to M.A.P.

article thumbnail

Can We Make Home Building a Little Less ‘Interesting?’

Pro Builder

The Colorado Springs model for bringing back trade skills training in high schools is spreading. Be honest with yourself: Can you describe your startups as a finely honed process with all plans, specification, selections, options, colors, and sales collateral materials complete before construction of the first model begins?

Overhead 105