Despite warnings of retaliation from Chinese President Xi Jinping, Trump’s tariffs on foreign metal imports went into effect mid-March. A month later, the Chinese steel industry is now revealing plans to fight back, effectively starting the international “trade war” long-prophesied by expert economists. NBC is reaching out to as many US manufacturers, construction companiesRead More
President Trump’s aluminum and steel tariffs are leaving the heads of business owners around the world scratching their heads—along with members of his own party. For business owners still curious as to how Trump’s tariffs are affecting their businesses (despite Wilbur Ross’ enlightening soup can analogy), the financing advisors at National Business Capital brokeRead More
While businesses in many sectors experience ebbs and flows, in the contracting world it’s a foregone conclusion that boom times will be followed by some belt-tightening. In fact, a substantial drop in demand is so predictable, that it even has its own label: “the slow season.”
As an entrepreneur and business owner, you know there’s more to your success than simply being passionate about your product. After you put your team together and start putting out products, you realize pretty quickly that you need to do some more complicated business management tasks – like accounting. If you’re the type of businessRead More
Few who pass a construction site may consider how the numerous individuals working on a high rise or even a suburban tract development have come together to work seamlessly as a team for the duration of a project. Over the years, a construction firm that has been awarded a building contract may have assembled aRead More
New construction starts will begin as soon as ground can be broken this Spring. The slower cold weather months allow construction company owners to make necessary repairs and to budget for the more active months ahead. There is still time for construction business owners to get their financial houses in order by learning more aboutRead More
In every business contingencies occur. That is when working capital reserves are drawn upon to cover unexpected expenses. The amount of cash flow that is set aside for these emergencies may not always be sufficient to cover the requirement for additional working capital.
In the construction industry, many job or project contracts are awarded based on a closed bidding system. Once construction contracts have been awarded, there is usually a period of several months to prepare for their start. Over the slower winter months, many contractors prepare their equipment and workforce for the spring project starts. During thisRead More
For builders, running their business and maintaining project schedules simultaneously can be exceptionally difficult to achieve. Before groundbreaking for any housing or construction project takes place, contractor financing must be arranged. Contractors need certainty on when they will receive their financing, this way they can integrate the infusion of working capital into their project schedule.
Despite an increase in housing starts for 2016, traditional financing for these construction projects may be difficult to obtain. Banks have tightened their lending practices and have also extended the time it takes to receive project financing, even for well-established contractors and construction firms. Criteria for builder financing which had once been very general, i.e.Read More