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What Does Increased Economic Growth Mean for Construction Profits?

After years of slow economic growth following the 2007 economic downturn, the economy is finally showing sustained growth. Revenue numbers in the S&P 500 are now higher than they have been in years, and US consumer sentiment is at a 17 year high, topping even pre-recession levels of consumer confidence.

The Wall Street Journal speculates that this growth means corporate profits may begin to slow, due to increases in labor and material costs offsetting growth. As Economy Gains Strength, Companies Sell (and Spend) More

This presents an important question for the construction industry: Will we too see stagnating profits even the face of overall growth?

Without a crystal ball, it’s impossible to know. It is likely that a strong global economy will drive up the cost of materials, and right now, Europe is enjoying decent growth.

However, as everyone who’s worked construction knows, hiring construction workers is an entirely different ballgame from hiring accountants or salespeople. Often, traditional employment metics have little relation the nuts and bolts realities of our jobs, and the things driving up labor costs for Goldman Sachs don’t have much bearing on our lives.

Only time will tell, of course, but I predict that we’ll see construction profits continue to increase–good news for those of us who’re already working with tight margins!

Confused about how construction factoring could help your business grow? Watch this quick video that explains the basics of what happens when Construction Finance buys your accounts receivable: http://constructionfinance.com/what-is-factoring/

Article written by Tipper Coker, Construction Finance

Tara “Tipper” Coker, Esq.

www.constructionfinance.com

Tel 870 277 0658 Fax 870 451 8154

Read the entire article here: http://constructionfinance.com/2017/11/13/what-does-increased-economic-growth-mean-for-construction-profits/

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MO Demolition Contractor receives 250k funding facility from Construction Finance. With Construction Finance, this woman owned construction company is able to procure multiple City and State projects. Her customer advised that no contractor has finished the demo projects so quickly. She advised, “Finishing quickly is easy when you have cashflow to pay the crews quickly”.
Check out our other success stories found here: CONSTRUCTION FINANCE SUCCESS STORY NO. 01


ConstructionFinance.com

For more information on invoice factoring and if it’s a good fit for your company, contact John Sawyer today!

john@constructionfinance.com or 870-277-4171

http://constructionfinance.com/2017/09/11/construction-finance-success-story-no-05/

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Commercial contracts up for bid are plentiful after you have waded through mounds of red tape. Bidding on contracts is exciting to say the least and only topped by the heart racing experience of being awarded a contract. The hard part is figuring out how in the world you are going to have enough capital to buy materials and pay subcontractors. And all before ever getting paid for the first invoice you submit.

That’s where Construction Finance can help. We buy (or factor) the invoices you submit to the general contractor. We pay YOU for that invoice IMMEDIATELY and we wait to be paid by the general contractor. Thus giving you the cash you need to pay for materials and pay subcontractors. This not only keeps your supplier happy but keeps your subcontractors on the job!

Take a look at or print our APPLICATION here.

Call Construction Finance today to find out if accounts receivable factoring is right for your construction company!

870-277-4171 or email John Sawyer at john@constructionfinance.com

Watch a quick VIDEO explanation of how construction factoring works here.

http://constructionfinance.com/2017/08/31/competing-for-commercial-construction-contracts/

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Construction Finances funds Time and Materials Electrical Contractor up to 100k!
Construction Finance funds Time and Materials Electrical Contractor up to 100k! Way to kick off the week! School is in and business is booming! This momma of 8 is HAPPY!!! http://constructionfinance.com/2017/08/17/construction-finance-success-story-no-04/

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So many growing subcontractors share with us that they need someone in the office to help with the stacks paperwork that accompany commercial contracts. In order to serve our clients and accomplish our mission, “To Help our Customers Grow” we saw a great need for billing support and answered the call.

Check out some actual comments from some of our clients:

-I am going to lock myself in a room on Sunday(my only day off) and “get caught up on paperwork”
-My wife is doing all of our billing and payroll. She has a day job, but tries to fit me in. I need to hire another person.
-I am going to hire a real CPA to “Take over the books”, but, its gonna be expensive.
-This pay app is going to pay late because it was billed late.
-We have plenty of work; we are swamped; we just don’t have time to slow down and bill for all this work.
I recently visited with an overworked electrical contracting crew that was behind on his pay apps. I stated, “you bill over $50.00 per hour, per man on the job. Why would you pull off the job yourself to go do your quickbooks? Do you get paid this much to do billing? Has anyone ever offered you $50 per hour to be an accountant? I advised him to stay on the job sites for billable hours, and use sharper, more affordable experts to do his paperwork.
This reminds me of the story told by Stephen Covey about “Sharpening your Saw”. Sometimes, you have to stop what you are doing, and “sharpen your saw” so you can do the job so much more efficiently and profitably in the future. Read the story in it’s entirety here: “Sharpen Your Saw”

At Construction Finance, we have shared with our clients that they have 2 choices. They can hire new employees to streamline their paperwork and billing. Typically, the applicant for this position needs to have accounting experience as well as be well versed in the commercial construction industry. Needless to say, this is a difficult skill set to be filled by one person. Ultimately, this adds to overhead. The indirect costs to bid the next project just increased.
Don’t have time to “Sharpen your Saw”?
Construction Finance offers “Back Office Support”.
Our in house accounting staff is very well versed in all aspects of your industry. We keep our ‘Saw Sharp’.
Our accounting staff has experience invoicing MILLIONS PER MONTH.
Whether you need help with:
-Submitting Pay Apps on Time
-Processing Payroll and Payroll Taxes Electronically
-Lien Waiver Management
-Issuing Preliminary Notices
-General Accounting Processes in your Software
Construction Finance offers Subcontractor Back Office Services.
Call Today to see of our Back Office Services could benefit your company.
Contact John Sawyer at 870-277-4171 or john@constructionfinance.com
http://constructionfinance.com/2017/05/31/construction-finance-announces-new-billing-department/

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So you have an idea for a business that you just know will be a booming enterprise right from the start?

Don’t just day dream about it, go out and do it! The U.S Small Business Administration (SBA) has published the below 10 steps to starting your own business.

http://constructionfinance.com/2017/05/18/what-does-it-take-to-start-a-business/
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