Whether you’re just getting started or you’re looking to grow your business, leveraging financing responsibly will help accelerate your growth. There are two main types of financing that you should understand; debt and equity. Based on the current status of your business, one might be more beneficial than the other.  Ask yourself: what are your current goals? What are you trying to accomplish? Do you need money to start a larger project? Here's how you can utilize each of these options.

The lean approach to inventory management helps businesses align their inventory with demand. Industries have worked for decades to cut costs by keeping on-hand inventory low, but it requires a careful balance.  Just-in-time inventory management has caused major delays in commercial construction starts due to supply chain shortages across the globe. So, how can you stay ahead of these material shortages? Listen to this week's Walkthrough Wednesday

In commercial construction, marketing your business doesn’t come down to typical branding initiatives, like logos, websites, or brochures. You build your construction brand by delivering quality work in the field. However, you can only demonstrate that value once you’ve won projects where you can showcase that quality work.  For new subcontractors, it’s critical to understand how to submit accurate, reliable bids that set you apart from your competitors.

Money today is worth more now than the same sum in the future. Why? Inflation. Money can only grow through investments, and waiting to invest that same sum is an opportunity cost. Understanding the time value of money helps you make smarter investment decisions by choosing the right projects to bid on. So, how do you calculate time value of money? Tune into this week’s Finance Friday to learn more.

The $1.2 Trillion infrastructure bill is steps away from the finish line.  On Friday, the House of Representatives passed the bill by a vote of 228 to 206; sending the bill to the presidential desk. Should the President sign the bill into law, it will allocate $550 Billion to civil works spending for roads, bridges, airports and rail systems.  What does this mean for the future of the job market?  Listen to this week’s episode of Walkthrough Wednesday to find out

A critical aspect of managing your construction business effectively is understanding liquidity ratios and how you can calculate them. Current ratio, quick ratio, and days sale outstanding are important formulas that help you determine the strength and vulnerabilities of your business. These should be calculated on a frequent basis so that unexpected expenses don't threaten the health of your business. How are each of these calculated? Listen to this week's Finance Friday episode to learn more.

The price for steel and aluminum products continues to increase as demand outweighs available supply. This has forced many contractors to pay a premium for any materials they can scrounge together. However, the US and EU recently reached an agreement to ease the tariffs on these products beginning December 1st, 2021. With these tariffs lifted, a certain amount of steel and aluminum can be imported from Europe duty-free. Here's everything you need to know about this agreement.

Manually tracking labor across multiple job sites is cumbersome and can lead to decreased margins if data is not recorded accurately.  In the US, businesses lose nearly $400 Billion a year from inaccurate labor tracking. On this week's episode, we sat down with Workyard, a workforce management software, to discuss how they're helping contractors streamline and digitalize their labor tracking to improve project profitability. So, how does this work? Tune into this week's episode to find out

Supply chain challenges, rising material prices, and volatility are creating significant challenges in the construction industry.  As a result, supplier price guarantee periods are rapidly decreasing with prices only being locked for 3 - 4 days; compared to 30 days historically. So, how can you combat these challenges? Build strong relationships with your suppliers by giving them advanced notice on material purchases, talk to them about your projections, and pay them on-time, in cash.

It’s no surprise that the construction industry is still facing labor shortages and material pricing surges. Despite these challenges, nonresidential construction starts rose to $281.8 Billion in 2021; compared to $244.1 Billion in 2020. With low interest rates and high levels of liquidity in the market, contractors expect sales, staffing, and profit margins to expand over the next six months as demand for construction services remains strong. Here's how you can take advantage of this opportunity