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How to Avoid Running Out of Cash on a Construction Project

Levelset

Contractors can take on more work than their cash flow will let them perform, leaving them scrambling for cash to pay their bills or their employees. Ensuring consistent cash flow throughout a project is the key to scaling your contracting business. Why contractors run out of cash. But what about cash flow?

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Why Banks Won't Lend Money To Your Construction Business

Contractor Bookkeeping

Small construction business owners must be adequately prepared to meet with a lender to present their business in the best possible light and ready for the money they need. Getting approved for a business loan or line of credit is more complicated than qualifying for a personal loan.

Banking 112
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The High Cost of Low Bids: When Contractors Compete on Price, Everyone Loses

Levelset

And any savings on paper are usually lost mid-way through the project in change orders. It’s time to re-educate the construction industry and reframe the “low bid wins” philosophy. Owners or developers frequently push for the low-bid procurement method in construction. Low Bidding Impacts Contractor Cash Flow.

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Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Data Security in the Cloud » Collaborating on Cash flow. Bad or outdated information is probably one of the biggest reasons cash flow issues occur.

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Five Tips To Help Contractors Stop Losing Money On Change Orders

Contractor Bookkeeping

Part of the root cause can be traced to a mild case of "Stockholm Syndrome" where contractors feel their cash flow may be held captive by their customers or clients. In this case the "Hammer" is a change order. This is harsh but true from my experience as a contractor and now as a construction accountant.

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5 Reasons to Use Mechanical Contractor Software

Pro Builder

The construction industry has gone through an extensive transformation, and technology has completely changed the concept of how to drive more quality, productivity, and profit into projects. Construction management software is designed to serve different trade contractors including mechanical contractor services.

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Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. « The (Construction) Telephone Game. So You Want to Buy New Construction Software » Construction Software – Is it Time to Buy?

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