Across the board, construction and contracting businesses are feeling the impacts of global supply chain disruptions and labor shortages firsthand. According to an early 2022 news release published by Associated Builders and Contractors, “overall construction input… Read More »Building a construction budget – Improve cost control in your construction projects
A construction submittal is a formal request for approval of specific materials, equipment, drawings, or data from the general contractor or project owner. It sets expectations and aids in keeping projects on schedule and within… Read More »What is a construction submittal: how to utilize them for project success
Construction work in progress (WIP), is a necessary accounting process that details the status of a partially completed job and its associated costs. Working in tandem with the percentage of completion method for revenue recognition, WIP reports play… Read More »Construction work in progress: Everything you need to know about WIP
A great proposal is crucial to win business, especially for growing contracting businesses. By using a generic or unoptimized proposal for your bids, you could be leaving potential profit on the table. Learning how to… Read More »How to write a construction proposal
What’s your current average profit margin on a job? What would you like your average profit margin to be in the future? What kinds of jobs tend to have the best margin for you? Far… Read More »Construction profit margin: 5 ways to improve profitability and grow your margin