Construction

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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Crunching Numbers for Multiple Corporations

Crunching Numbers for Multiple Corporations It might be advantageous from a tax standpoint to run a business through multiple entities. For example, a construction company might form a separate company to own and lease its trucks and equipment back to its related entities. Or a corporation might transfer appreciated property to an affiliated corporation in…

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