Why Join a Construction Trade Association?
With demanding schedules and tight budgets, some contractors see industry associations as a waste of their time and money. However, construction trade associations offer numerous benefits. They not only keep you on top of important industry trends and developments, but also facilitate networking with like-minded professionals. Below are some of benefits of joining a contractor’s […]
Read MoreWhat Is a Surety Bond?
A surety bond is a contract between three parties-the principal (you, the contractor), the surety (typically an insurance company) and the obligee (the entity requiring the bond)-in which the surety financially guarantees to an obligee that the principal will act in accordance with the terms established by the bond. In this way, the obligee can […]
Read MoreHow Drones Are Making an Impact on the Construction Industry
Advancements in technology are allowing construction sites to operate more safely and efficiently. It’s the 21st century, and construction is evolving to keep up with the latest technological advancements. Though it may seem like something out of science fiction, drones are the latest trend in the realm of construction. But what benefits do they bring […]
Read MoreProper Planning Keeps Construction Projects Moving Forward
A construction project could easily become derailed before ground breaks without the proper planning in place. The potential for project delays, overruns, and unhappy customers exponentially increases if proper planning is overlooked or compromised. Here are some tips to implement before your next construction project. Before creating the plan, meet face to face with your […]
Read MoreWhat Kinds of Insurance Coverage Do Contractors Need?
Construction sites are full of risks. From heavy equipment to dangerous machinery operated by employees, there are countless opportunities for people to suffer injuries and for properties to sustain damage. In the event of something going awry, it could be you who will be held liable. Without the proper coverage, this can potentially spell financial […]
Read MoreThe Power of Referral Marketing in Construction
Contractors are always looking to keep their crews busy with current and future jobs in the pipeline. You want to be able to leverage the ability to continually get jobs whether the construction market is booming or experiencing a slowdown. One of the best ways to boost lead generation is via referral marketing or word […]
Read MoreHow Federal Interest Rate Hikes Are Impacting Contractors
The U.S. inflation rate in March reached 8.25%, representing the fastest 12-month pace since 1981. In an effort to lower inflation, the Federal Reserve raised interest rates in March by 25 basis points and then by a half a percentage point in May, its largest rate increase since 2000. It’s expected that the Fed will […]
Read MorePlanning for Emergencies Helps Contractors Reduce Risks
Many things can go wrong on a project, including an accident, injury, or property damage. Hazards on the job could result in worker or third-party injuries. Property damage from man-made disasters, such as a fire or explosion, or a natural disaster, such as a flood, hurricane, tornado, wildfire, or earthquake, can destroy a construction site […]
Read MoreHigher Used Truck Prices, High Cost of Fuel Impacting Contractors, Construction Industry
Data from the U.S. Bureau of Labor Statistics shows that the price of used cars and trucks jumped up by 40.5% from January 2021 to January 2022. Used pickup truck prices have risen at a faster clip than new trucks, with the average used full-size pickup truck eclipsing $40,000 in 2021. Why the Hike in […]
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