Construction

Limiting COVID-19’s Impact on Construction Work

Safety First: Limiting COVID-19’s Impact on Construction Work As the novel coronavirus (COVID-19) spread throughout the country this March and April, many states restricted the movement of residents while allowing those in “essential” businesses to continue working. Generally, construction companies have been deemed essential for this purpose — leaving contractors to grapple with the logistics….

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Joint Ventures: How they Can Open New Doors

Joint Ventures: How they Can Open New Doors Joint ventures are common in the construction industry, especially with large long-term projects. These collaborative arrangements allow construction firms to work together, for a limited time period, on one or more construction projects. The upsides include pooling of expertise and resources, broader geographic reach, reduced risk, and…

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Lowering the Bar on Performance and Payment Bonding

Lowering the Bar on Performance and Payment Bonding Acquiring or increasing your firm’s bonding capacity can open a whole new market of jobs. It can allow you to take on a multitude of public works projects or larger, more profitable, higher-profile private jobs that require a more hearty bonding capacity than what you, or your…

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Fight Back Against Internal Fraud in Your Construction Firm

Fight Back Against Internal Fraud in Your Construction Firm Internal fraud drains approximately $4 trillion annually from global businesses, according to an estimate by the Association of Certified Fraud Examiners (ACFE). The median loss from internal fraud at companies in the construction industry is $227,000, according to ACFE’s latest Report to the Nations. Although companies…

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Important Considerations When Buying Another Construction Firm

Important Considerations When Buying Another Construction Firm Buying another construction firm can be an attractive way to grow your company’s revenue base. A merger or an acquisition can allow you to: Add a new subcontracting specialty, Acquire an experienced labor force to reach new markets, and Deepen your penetration into the market your firm already…

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