As the owner of a construction or contracting business, you're probably confident in wiring homes safely, repairing faulty plumbing, laying flooring, and other tasks that baffle most of the population. But you may not be as comfortable structuring the business side of things so that you don't end up with unexpected expenses or financial crises.
That's why we compiled these guides. Combined with your expertise in your industry, these how-tos will help you understand everything from complying with OSHA regulations to strengthening relationships with clients. Read on for tips to help make sure your business is one of the sturdiest things you build.
Equipment damage, personal injury, and seasonal slowness are among the biggest hazards construction and contracting businesses face. Find out how to make sure your business has the resources in place to protect itself when these and other problems come up.
Construction and contracting businesses (and even independent operators) often require licenses and permits to do their work. Find out how to make sure you've taken care of the paperwork so you don't end up facing fines.
Finding clients is only part of what contractors and construction professionals must do to get paid for their work. They also have to make sure they're following federal, state, and even local guidelines for waste disposal, building codes, and even insurance compliance. Brush up on key regulations to be aware of so your business doesn't run afoul of the law.
The Occupational Safety and Health Administration (OSHA) has rules for just about every kind of work construction professionals and contractors do. Find out how complying with these rules can keep you and your workers safe in any situation.
Being bonded and insured demonstrates to prospective clients that you have certain qualifications and assures them that, if your work causes them financial loss, they'll be able to recuperate those losses. Get details on how surety bonds work and how they can help your business.
Even if you're never sued in the course of your work, you will likely need to have insurance to meet contract requirements or state laws. Find out how various types of coverage can keep your business in the black when things go wrong.
Classifying workers incorrectly can lead to major fines and expensive lawsuits. Find out how to avoid legal trouble (and the associated cost) by classifying your workers right.
Using contracts is an important part of minimizing your liability, especially when you're working with subcontractors. Find out why it's essential to require that subcontractors have appropriate licenses, bonds, and insurance policies in place to keep your potential liabilities to a minimum.
The easiest way to get new clients is to let your excellent reputation precede you. Find out how asking for referrals, keeping communication lines open, and following safety regulations can help keep business flowing.
Client contracts are your best friend in the event of a disagreement over your services. They can limit your liability and protect you if a client decides to initiate a lawsuit against you. Find out how you can fit client lawsuits into your small-business budget.