Category: Insurance & Leasing
-
Safe Driving Strategies for Construction Crews and Fleet Managers
Safe driving practices are paramount in the construction industry, serving as a critical safeguard for workers and a strategic measure to mitigate financial and operational risks. And yet, the construction sector remains one of the most dangerous industries for workers. As many as 1 in 5 workplace fatalities occur on a construction job site, according…
-
Equipment Sale Leaseback: IRS vs. FASB Considerations
An equipment sale leaseback is a financial arrangement where a company sells its equipment to a leasing company or financial institution and then immediately leases it back for continued use. Essentially, it’s a way for a business to free up cash tied to equipment it owns while still retaining access to that equipment for its operations.…
-
How Job-Costing Helps Construction Companies Improve Their Bottom Line
Business ownership is hard. Grueling hours, financial risk, and constant unknowns are the life of most entrepreneurs. And for what? Most business owners are working harder and harder to grow their revenue, yet making meager profits, if any profit at all. Consider this. Would you rather run an $11 million business that generates $350,000 in…
-
How Subcontractors can Avoid Financial Distress
A combination of macroeconomic factors and a desire to drive top-line revenue continues to lead many subcontractors to underbid projects, sometimes unintentionally, ultimately contributing to financial distress. As more subcontractors succumb to the pressures of the environment, we may see a bubble form. Savvy general contractors are already taking steps to protect themselves from the…
-
7 Data Sources That Cut Project Costs and Time
Every project, no matter how big or small, is a race against time. The longer it takes, the less profitable it is. And while shortcuts can save time, they can also lead to accidents. Striking the right balance between efficiency, productivity, profitability and ensuring worker safety is always the goal but recent data shows construction…
-
Optimizing Automation in Your Construction Business
With the increasing demands on pavement contractors—whether managing multiple projects, tracking material costs, or handling client invoicing—automating accounting tasks can significantly improve efficiency and accuracy. So, how do you avoid the aggravation of automation? It all comes down to proper setup, a solid understanding of financials, and structured processes. The Importance of Proper Setup Successful…
-
Rethinking Pricing as Tariffs Hit
Trump’s election will likely improve demand conditions for construction spending but also include risks based on tariffs, project timing, and completion due to labor and supply implications from policies. Early themes from builders, remodelers, and contractors indicate optimism from the election outcome partly due to clarity and certainty of administration tone for the next four…
-
Gordian Reveals Construction Industry Cost Insights for Q1 2025
As a provider of data-driven solutions for the building lifecycle, Gordian released its 2025 RSMeans Data. The RSMeans Data is updated quarterly to reflect the state of cost lines in the industry. Gordian reported that construction costs continued to increase slightly faster than inflation heading into 2025, with labor wages rising by an average of…
-
What the Steel and Aluminum Tariff Could Mean for Construction
In an effort to protect America’s steel and aluminum industries, on February 11, President Trump signed proclamations to close loopholes, restoring a “true” 25 percent tariff on steel, raising the tariff from 10 to 25 percent on aluminum. As quickly as President Trump addressed these tariffs on what are vitally imported construction materials, it didn’t…
-
How Dashcams are Enhancing Safety and Protecting Fleets From Fraud
Let’s face it — we live in a world where everything is prone to going viral. A recent epidemic that has taken the Internet and social media platforms by storm is auto insurance fraud attempts, thanks to the rapid adoption of dashcams. Dashcams have become essential for businesses reliant on vehicles and heavy equipment. They…