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Restoration: How to Manage Cash Flow While Waiting for an Insurance Check

Levelset

To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Poor cash flow management is the number one reason why construction businesses fail. Plan out your cash flow.

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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 Negotiate A Higher Credit Limit With Your Building Material Supplier

Levelset

Contractors trying to grow their business and take on larger projects often struggle to manage their cash flow to purchase the materials they need. Many contractors use trade credit to delay paying for materials and keep more cash in their pockets. And it costs less than credit cards or other contractor financing options.

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The Startup Construction Business Checklist: 3 Important Documents You Need to Have

Construction Marketing

Something as simple as a customer tripping over a hammer and hurting themselves could result in an accident claim – and without insurance, you could end up facing hefty fines and legal battles. Second, if you’re looking to raise finance, all potential investors will ask to see your business plan before agreeing to fund you.

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Prevailing Wages in Minnesota: What Contractors Should Know

Levelset

Before taking on prevailing wage projects contractors need to make sure they have sufficient cash to pay their workers until the first payment comes in. Options like materials financing and mobilization financing can help contractors delay some of the early project costs, giving them more ready cash to pay their workers.

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How to Get Paid on New Jersey Public Projects

Levelset

In the event of a payment dispute, contractors file claims against the payment bond instead of against the property itself. New Jersey bond claim laws & liens on contract funds. Ensuring rights on these claims requires preliminary notice to be sent. The same information applies to lien on contract funds claims.

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No easy rides for late payment reform

Construction Law

The government is effectively claiming that it only wants to do business with companies that promptly pay their suppliers, many of which are small businesses that can be destroyed because of the impact of late payment on cash flow. If they are, large suppliers are going to struggle to fund the cash flow hit.