Construction work, by its very nature, is a high-risk type of business. It usually isn't a matter of if a loss occurs, but when and how much. When a loss does occur, such as an electrical wiring fire, all the parties involved with the project generally point the finger at the other parties.
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No matter how careful your company is, accidents and injuries can still happen. When they do, responding properly is an important factor in keeping your Workers' Compensation insurance costs under control. Here are six steps to take in the event an injury occurs:
AFTER AN ACCIDENT
As an employer, you want effective job managers who think on their feet. By the same token, your foremen want to please you because you're the one who pays them each week.
Internal fraud drains more than $3.7 trillion annually from global businesses, according to an estimate by the Association of Certified Fraud Examiners (ACFE).
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.