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Type: Article
Section: Business > Business Services > Financing, Insurance & Leasing
Expert Columns
Small Business Outlook for the Construction Industry in 2024
Kapitus
Although 2024 presents uncertainty for small business owners, there is optimism for a soft landing that will allow for continued economic growth and strong employment without a material increase in inflation.
June 9, 2024
As interest rates decline in 2024, demand for contractors, home furnishings, and home improvement is expected to rebound.
Construction
Renting Construction Equipment is Good Move for 2024's Economy
RDO Equipment Co.
With high business costs in the construction industry, now might be the right time to rent equipment instead of buy.
May 27, 2024
When contractors feel the squeeze of increased fuel or labor costs, renting equipment provides peace of mind that the total funds invested at the project’s completion will be close to its initial bid.
Financing, Insurance & Leasing
Protecting Yourself Against Construction Heavy Equipment Liens
Compliance and Lien Solutions Inc.
Given the cyclical nature of construction, it's crucial to understand the legal aspects of liens and take necessary precautions.
May 24, 2024
One significant issue is that equipment liens stay with the machine regardless of who owns it.
Financing, Insurance & Leasing
4 Keys to Construction Financial Management in 2024
UHY
Whether it is coping with fluctuating materials costs or navigating multi-state compliance demands, the financial management workflow within the construction industry is one of the most hectic throughout the business world.
May 8, 2024
In the face of this economic uncertainty, construction businesses will undoubtedly face the urge to run out and hoard new projects as a way to insulate themselves against future economic downturns.
Construction Safety
Baltimore Bridge: Supporting Workers’ Families and Addressing Force Majeure Clauses
Authorities announced the discovery of the fifth body of a construction worker in the aftermath of the Baltimore bridge collapse. In light of this tragedy, experts emphasize the importance not only of safety, but for contractors to address force majeure.
May 3, 2024
A Maryland Natural Resources Police officer conducts an overflight assessment of the M/V Dali, a 948-foot Singapore-flagged container ship, and Francis Scott Key Bridge in the Patapsco River in Baltimore, Md.
Business
How Potential Tax Changes May Impact Your Construction Biz
GB Financial Services, LLC
Pending tax changes may put cash in your pocket.
April 30, 2024
Pending tax changes that will become law for 2023 and 2024 may give many contractors the opportunity to amend their 2023 tax returns and receive additional benefits that could reduce 2024 estimated tax payments.
Coaching & Consulting
The Cost of Quality in Construction
Pinnacle Development Group,Inc
The cost of quality is zeroed out when we do things right the first time.
April 27, 2024
Adobe Stock 134977900
Concrete Equipment & Products
Buying Used Concrete Equipment? Beware of Hidden Liens
Crest Capital
There's an uncommon-but-real issue that could crop up when buying any type of used equipment, and that’s buying equipment that unknowingly has a lien on it.
April 24, 2024
Reputable sellers, UCC searches, and ensuring all paperwork is accounted for are all good practices to follow.
Construction Safety
3 Tips for Managing Economic Risks on Construction Projects
Sentry Insurance
While you can’t eliminate risk entirely, you can take steps to help reduce it, avoid it and protect against it.
April 17, 2024
A formal safety program can help ensure that you’re regularly checking your property, jobsites, equipment, and materials for any sign of damage, wear, or malfunction that could lead to larger issues later.
Financing, Insurance & Leasing
Despite High Prices, Optimism for Logistics Future Continues
Council of Supply Chain Management Professionals (CSCMP)
This is the seventh time in the last eight months that the LMI has shown expansion. This growth is driven by the buildup of inventories, the subsequent tightening of warehousing, and the ongoing slow yet steady recovery in transportation.
April 6, 2024
Doubletree Studio Adobe Stock 225586230 660d6de5c05c8
Labor & Workforce Development
JA Mitsui Leasing Buys Oakmont Capital
JA Mitsui Leasing, Ltd. (JAML)
JA Mitsui Leasing announced today that it has acquired a 100% interest in Oakmont Capital Holdings.
April 4, 2024
JA Mitsui Leasing has announced that it has acquired a 100% interest in Oakmont Capital Holdings.
Coaching & Consulting
Your Balance Sheet: A Critical Financial Tool
Fortiviti
The balance sheet is one of the most underutilized financial tools in business, and it shouldn’t be. It can provide valuable information about the health of your business, and also help you ensure the accuracy of your financial statements.
March 10, 2024
Adobe Stock 425241599
Business
How Your Business Story Matters: Construction Equipment Financing from Story Lenders
NFS Leasing, Inc.
Amid economic uncertainty, banks are tightening lending standards. That’s when story lenders provide an alternative for mission-critical equipment acquisition.
March 4, 2024
A story lender can fill the gap by providing equipment financing for businesses with unique circumstances, less-than-perfect credit or short-term cash constraints.
Business
Billd Adds to Leadership Team
Billd
These appointments highlight Billd’s commitment to serving commercial subcontractors at scale, by building a high-performing leadership team to set and execute against ambitious growth goals.
February 24, 2024
As Billd scales its operations and extends its reach, the company is determined to curate a powerhouse team that will actively ensure that subcontractors have the financial tools they need to succeed.
Financing, Insurance & Leasing
Innovation in Construction Will Help Operators Meet the Challenges of 2024
ButcherJoseph & Co.
ESOPs allow sellers to realize the value for their company while retaining legacy and rewarding their employees.
February 18, 2024
Increased demand is great, but operators are now navigating the problem of not having enough people to complete projects on time.
Financing, Insurance & Leasing
What Your Construction Business Numbers Mean in 2024
GB Financial Services, LLC
Prices are up, inflation is up -- how are you planning for your construction business in 2024?
February 14, 2024
These days, it’s even tough to know what to expect from sales, cost of sales, sales pricing, gross profit percentage, operating costs and operating margins.
Business
Construction Labor Report Discusses Constricted Labor Pool
ConstructConnect
This report analyzes how the labor force has shifted since the pandemic and provides practical strategies for how organizations can adapt.
February 5, 2024
The report provides five specific strategies for how businesses can adapt to these new construction labor dynamics.
Business
Forward Bound: Reflecting on 2023's Construction Trends, Envisioning 2024
RDO Equipment Co.
Technology can help provide you with the project reporting requirement to document progress on key performance metrics such as completion rates.
January 26, 2024
To help construction employers retain and recruit new talent, technology can play a critical role by offering safer working conditions.
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