Internal fraud drains more than $3.7 trillion annually from global businesses, according to an estimate by the Association of Certified Fraud Examiners (ACFE).
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Creating a formal debt management plan, rather than borrowing haphazardly, can save your firm thousands or even tens of thousands of dollars in interest.
The term "stormwater" refers to any runoff after rain or snow from a barren piece of land, an area with vegetation, or constructed areas such as paved streets and rooftops. Stormwater discharges can contain pollutants in large enough quantities to contaminate a water supply.
Acquiring or increasing your firm's bonding capacity can open a whole new market of jobs. It can allow you to take on a multitude of public works projects or larger, more profitable, higher-profile private jobs that require a more hearty bonding capacity than what you, or your agent, are used to.
Sooner or later, most construction firms need financing for an expansion, new equipment or a new facility. The process of approaching a lender can be daunting, but with a few well-planned steps, you can boost your chances of successfully finding the money you need.
General contractors for big-budget construction projects look for ways to manage risks, including the possibility that subcontractors won't perform the work they were hired to do.
Generally, that has meant shifting the performance risk to some guarantee form such as a surety bond. But there might be an alternative for risk transference: subcontractor default insurance (SDI).
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?
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.