Splitting up contracts to subcontract with multiple specialty companies is one way to avoid costly delays. But the practice entails different risks that Kim Slowey explores while offering tips to determine whether splits are a good idea in different situations.
New small businesses aren't immune from cyberthreats, making it imperative for bosses to begin cybersecurity protection efforts from the start. Among the tips to consider: Train staff in cybersecurity, keep outside devices to a minimum, install a firewall and institute a password policy.
Supply chain finance enables buyers to conserve the amount of cash they have on hand while suppliers can get paid more rapidly, with the tradeoff of a modest discount, writes Phil Bartolini. SCF is one of several "extended financial value" platforms that businesses are considering to maximize efficiency in the accounts payable area.
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A tax-overhaul plan outlined by President Donald Trump likely would lower taxes for most small construction companies, industry experts say. The current proposal offers few details, however, so the potential effects on the construction industry remain unclear, observers say.
Safety technology, cameras, monitors, harnesses and other equipment can help reduce fall incidents on construction sites. However, company owners must be willing to invest in the tools, train workers to use them and enforce safety policies.
Safety is the top priority for construction firms as winter approaches, and Kim Slowey looks at some ways companies protect their workers. Construction industry professionals say bad weather needs to be integrated into the construction schedule, so planning is the key.
With major US petrochemical projects nearing completion, companies are looking at ways to improve the construction, engineering and hiring aspects of such efforts for the next wave of investment. In one example, Turner Industries was able to find certified employees more effectively through a job-hiring app.
For some companies, finding talented workers who can make real contributions to the business is more difficult than accessing capital, writes Rafi Chowdhury. Businesses can improve their personnel-management processes by measuring the proper metrics, monitoring worker productivity and giving employees the chance to move into more advanced roles.
Nonfarm payrolls decreased by 33,000 in September, below economists' average expectations, in part because of disruptions from hurricanes, according to data from the Bureau of Labor Statistics. The construction sector added 8,000 jobs, and the unemployment rate fell from 4.4% to 4.2%. Downward revisions to the July report subtracted 51,000 jobs.
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