Tips for increasing profit and cash flow

The Journal of Accountancy provides nine suggestions for builders and contractors to increase profits, including:

• Take every available tax credit.
• Save on workers’ compensation insurance with safety programs.
• Update overhead percentages.
• Hold a weekly collection meeting.
• Manage subcontractors and material suppliers to the project schedule.
• Partner with subcontractors and suppliers to win bids.
• Set up a rolling cash flow projection.
• Close out pending change orders and backcharges weekly.
• Take advantage of the U.S. Small Business Administration’s new American Recovery Capital (ARC) Loan Program.

The full article is available here. Previous posts on Small Business Administration loans are available here:

SBA training on winning federal contracts Subcontracting to Snag Stimulus Dollars How to Win Federal Contracts 6 Tips to Speed up SBA Loan Approval Recovery Funded Ultra-Low Interest Loans The ABCs of SBA Lending Interest-free SBA Loans