article thumbnail

Why Misclassified Payroll Matters

Construction Business Owner

For most businesses, workers’ compensation is the largest insurance expense line item. Being able to secure the lowest possible premium and reduce the impact of an audit will help you avoid the headaches many companies face in managing this insurance.

article thumbnail

Creating a JOC Coefficient?

Job Order Contracting

Social security contributions. Workmen’s compensations insurance. Note: Quality, locally researched unit price books will already include social security contributions, general insurances, workmen’s compensations insurance, state unemployment insurance, and federal unemployment insurance. General insurances.

Insurance 264
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Revitalize Your Back Office & Streamline AP Processes

Construction Business Owner

Revitalize Your Back Office & Streamline AP Processes ccapoccia Tue, 04/30/2024 - 08:59 Contractors know all about risk — jobsite security, health and safety, workers’ compensation, bonding, subcontractor compliance and more. For many construction business owners, it seems like the list can go on forever. Is your back office a risk?

Revit 156
article thumbnail

How To Finance a Business: Short-Term vs. Long-Term

Construction Marketing

Securing funding is one of the most crucial steps when starting or expanding a business. Interest rates on short-term loans are typically higher than those on long-term loans, as lenders compensate for the shorter repayment period with increased interest.

Finance 299
article thumbnail

How Much Does a Construction Worker Make?

Building Radar

High-demand roles like electricians, plumbers, and heavy equipment operators are typically compensated more generously due to the specialized skills required. For example, early identification of high-value projects can lead to more strategic bidding, ensuring that companies secure contracts that offer better pay for their workers.

article thumbnail

15 Tips For Starting Your Own Roof and Guttering Business

Construction Marketing

Insurance, liability, and workers’ compensation . Protect your business by securing permits and licenses. Start with General Liability Insurance and the Workers’ Compensation Insurance. . You’ll also require the following: Vehicle that can handle transport of materials. Roofing equipment and materials.

Insurance 296
article thumbnail

Objective, reliable, and veriable Construction Cost Estimates

Job Order Contracting

. #5 Understand Your Products, Material, and Labor Costs/Pricing Factors that impact local market costs: Availability and demand for a product.