article thumbnail

5 Ways to Improve Cash Flow in Your Construction Business

Levelset

From buying materials to hiring crews, business begins when cash flows. If you’re a specialty contractor who needs cash flow solutions, you’re not alone. In this article, you’ll discover five tips to improve your cash flow so that you can grow your business and increase financial flexibility.

article thumbnail

A Cash Flow Guide for Architects

Levelset

However, like any other business, you need to maintain positive cash flow or you may find yourself unable to pay your workers and other expenses. Let’s take a look at the basics of cash flow and how architects can budget their expenses and forecast their income to stay in good financial standing. Cash flow basics.

professionals

Sign Up for our Newsletter

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

article thumbnail

4 Key Habits of Large, Successful Contractors

Levelset

Levelset’s recent 2022 Cash Flow & Payment Report revealed some key differences between large, successful contractors and smaller construction businesses. Larger companies tend to send preliminary notices on every project or at least situationally — like when they’re required for protecting lien rights.

Lien 98
article thumbnail

How to Get Paid on New Jersey Public Projects

Levelset

When payment problems come up, contractors on public projects can’t turn to the mechanics lien for the solution — both the federal and state governments prohibit private companies from gaining interest in public property. New Jersey bond claim laws & liens on contract funds. Preliminary notice requirements.

article thumbnail

8 Ways for Contractors to Build Trust With a Homeowner

Levelset

Shady, fly-by-night contractors will promise customers the world — and they hide the fact that they can put a lien on the owner’s home. They’ll collect a few checks, perform shoddy work, and then file a lien when the customer doesn’t pay. It’s also important to educate your customer about mechanics liens. Be responsive.

article thumbnail

Process Dependent Vs. People Dependent Increases Contractor's Profits

Contractor Bookkeeping

Cash flow issues kill contractors even though they have profit. Sales tax liens against contractors twenty two times higher than any other business. Sales tax liens against contractors twenty two times higher than any other business. Poor scheduling affects production and cash flow.

article thumbnail

Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Invoicing - For small projects we have a Free Invoice Template you can download and for larger projects with multiple deposits, change orders, progress payments check out our Pay Application. Payment terms put you in never ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24%.