Let's say you're an electrical contractor. One of your employees bumps into an unoccupied scaffold on a construction site and destabilizes it. Which actions should you take to ensure the safety of workers and avoid liability?
In the News
Thursday, February 11, 2021
Buying another construction firm can be an attractive way to grow your company's revenue base. A merger or an acquisition can allow you to: •Add a new subcontracting specialty, •Acquire an experienced labor force to reach new markets, and •Deepen your penetration into the market your firm already serves.
Thursday, January 28, 2021
Financial statements are a must-have for any organization. The balance sheet reveals how much its assets and liabilities are worth based on historic costs. The income statement tells investors and lenders how profitably and efficiently the company has performed during the accounting period. The statement of cash flows details sources and uses of cash from operating, investing and financing activities. All this is relevant information for company insiders, as well as for lenders, bonding companies and other stakeholders.
Thursday, January 14, 2021
Construction project financing and cash flow management are unique for several reasons.
Thursday, December 31, 2020
Three bricklayers are working on a job site. The first describes his job as "laying brick," while the second says he's "building a wall." But the third explains he's "constructing a children's cancer research facility."
Thursday, December 17, 2020
The tax law permits you to deduct home office expenses if you "regularly and exclusively" use an area of your home as either: •Your principal place of business. •A place to meet or deal with clients, customers or patients in the normal course of business.
Thursday, December 3, 2020
The death of an employee who fell two stories to his death at a Massachusetts construction site might have been prevented if his employer had supplied the required fall protection, according to the Occupational Safety and Health Administration (OSHA).
Thursday, November 19, 2020
Construction site theft is an expensive, growing concern. Costs rise as contractors lose building materials, tools and equipment and liability insurance premiums rise. Often those losses are passed on to customers.
Thursday, November 5, 2020
Want three ways to cut Workers' Compensation premiums? Safety, safety and safety. Make it a priority and charge everyone who works for you with responsibility. One company, which made a top-down commitment to safety, reduced accidents and injuries by 50 percent in five years and saved more than $800,000 in Workers' Comp premiums.
Thursday, October 22, 2020
Construction employers are fined millions of dollars each year for OSHA violations. The citations that result in fines are often overlooked by supervisors. Although employees usually receive generic information about OSHA standards in most workplaces, it's important to implement training procedures that make OSHA's rules clear.