Recessions happen. They’re part of the economic cycle. Recession-proofing your business just ensures you’re prepared for the next one, regardless of when it happens. This guide will explain some of the best ways to shore up your bottom line in the event of a recession.
Technology evolves at a breakneck pace, impacting your business in ways that you might not immediately recognize. The introduction of AI leadership roles and the outdated technology still in use are two critical areas that deserve a closer look for any construction firm aiming to stay ahead.
The national construction industry added 9,000 jobs on net in April, according to data released Friday by the US Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 258,000 jobs, an increase of 3.2%.
National nonresidential construction spending increased 0.2% in March. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.19 trillion for the month.
When a construction company uses its accounting department to its fullest potential, great things start to happen. Stakeholders make better decisions and risks are often identified and minimized sooner, with less effort. This means increased profits, shorter timelines, and a more well-rounded business. But accounting teams can’t accomplish this if they’re left out of the picture.
Why should you pay attention to the changes? The difference between an employee and an independent contractor is important because taxation is different for contractors vs. employees, and independent contractors are not subject to the minimum wage requirements, overtime requirements, and a number of federal and state laws that cover employees.
The national construction industry added 39,000 jobs on net in March, according to data released Friday by the US Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 270,000 jobs, an increase of 3.4%.
National nonresidential construction spending decreased 1% in February. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.179 trillion for the month.
Critical path method, or CPM, scheduling has been at the core of construction projects for decades. What started as a simple analog process, which consisted more or less of gathering a group of individuals around a planning room board to assemble activities and milestones, has evolved into a comprehensive digital process that can incorporate a host of previously unconnected areas of project execution.
One of the accounting department’s greatest assets is its ability to assess risk and avoid it. Construction accounting personnel are generally risk-averse despite working alongside the adventurers who push construction projects forward.
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Eastbound Mechanical
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LCI-Lineberger Construction Inc.
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Mitchell Brothers
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HL Contractors
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Marques General Engineering, Inc.
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