Fieldwire
AUGUST 14, 2023
For many construction businesses, the retainage payment accounts for their entire profit margin on the project. Subcontractors who typically work at the beginning of a project — laying the foundation, for example — may be forced to wait months or years before they’re able to collect retained amounts.
Lets Build
APRIL 6, 2022
For most construction companies, retainage payments make up most or all of their profit margin: Failing to collect their retained funds means losing money on the project. It could also apply lower retainage rates to materials and higher ones to labour, helping cover upfront costs that have lower profit margins.
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Autodesk Construction Cloud
FEBRUARY 1, 2024
A strong financial base in construction is as vital for success as a solid physical foundation is for any building project. Paired with razor-thin profit margins, it’s increasingly difficult for construction firms to build and maintain the financial foundation necessary to compete and thrive in the industry.
Contractor Bookkeeping
FEBRUARY 28, 2014
Education is the foundation for shifting paradigm. Cash flow issues kill contractors even though they have profit. Sales tax liens against contractors twenty two times higher than any other business. Ignoring Profit Centers and Key Performance Indicators (KPI). 3 Refreeze - Close the portals of your mind for now.
Contractor Bookkeeping
OCTOBER 4, 2013
There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. Education is the foundation for shifting paradigm.
Levelset
SEPTEMBER 28, 2022
Laying Foundations. Hosts Davis Hambrick and Walker Lott talk their listeners through career paths, growth, and strategies in episodes of Laying Foundations. Profit Tool Belt. Contractors who want to learn more about how to market themselves, build their customer base, and get paid should turn no further than Profit Tool Belt.
Levelset
MARCH 31, 2022
If a contractor doesn’t receive payment, they can’t go after the insurance company – but they do have the right to file a mechanics lien on the owner’s property. With new customers in difficult situations, laying the foundations for great relationships takes on great importance. Gain the owner’s trust.
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