As of the first quarter of 2016, the Bureau of Labor Statistics (BLS) reports that there are over 768,000 construction companies currently operating in the private industry in America. There are also countless more that have come and gone. According to Statistic Brain, only 47% of construction startup businesses are still operating after year 4. Personally, I've seen many people break off from a construction company and create their own business; some are still in operation, others have failed.
So what sets the successful businesses apart from the others? Our friends at GenieBelt have put together a list of 10 reasons why construction companies go out of business. As the infographic shows, it's extremely important to remember that running a profitable construction company isn't only about having the ability building quality projects, it also takes a strong understanding of finance and marketing.
The following infographic is provided by GenieBelt, an easy-to-use construction project management software that empowers communication on site. GenieBelt allows you to regain control of your project and connect fast and easy with all the different construction agents. For more information, you can visit their website at https://geniebelt.com/. Infographic Design by Jenny Yi Lou (email@example.com).
Hello, W orld!
Caterpillar is not resting on what made it successful in the past anymore and probably for good reason. The equipment manufacturing giant recently bought Yard Club, a heavy construction equipment sharing company, looking to take advantage of the recently popularized sharing economy. Earlier this month, Caterpillar invested $2 million in Fastbrick Robotics, an Australian robotic technology company.
Just last November, a massive Five-Alarm fire rocked a multi-story residential building that was almost 80% complete at the time, completely destroying the project. This month, yet another multi-story residential tower that was almost complete caught fire, making it the 5th in 5 year to suffer the same fate. At least 3 of the previous 3 fires have been ruled as arson but, up to this point, no arrests for any of the previous arsons have been made.
In January of 2017, OSHA released a final rule which greatly reduced the allowable exposure to beryllium, a mineral that can cause deadly lung disease. While not as commonly encountered in the construction industry as other substances that cause terrible lung diseases, like crystalline silica and asbestos, beryllium is linked to a disease called chronic beryllium disease, which kills around 100 people each year. It’s commonly found in coal slag, which is used for sandblasting. According to the New York Times, OSHA estimates that 11,500 construction workers would be affected by OSHA’s reduced exposure limit.
Many contractors and repair technicians live out of their truck and Milwaukee Tool knows this. That’s why they’ve just released an M12 and M18 battery charger that plugs into the c12V DC outlet in your truck or van! As added security, the charger will automatically shut down if it senses that your vehicle’s battery is getting too low. Smart and ultra-convenient.
We know a lot of you out there could use this charger, so we teamed up with Milwaukee to give YOU the chance to WIN one! There are 4 ways to enter below!
In a year that OSHA can’t seem to enforce any new rules, it appears to have found a way to remove a rule from its books. As announced last week, OSHA has removed monorail hoists from Subpart CC – Cranes and Derricks in Construction. Employers are still required to follow other OSHA regulations regarding the hoists, but this rule should help clear up some inconsistencies.
Since the beginning of the year, OSHA has had a pretty hard time enforcing any of its new rules due to delays. The silica dust exposure rule was delayed 90 to September 23, the crane certification rule is facing yet another possible delay, and now the electronic injury reporting rule is facing another delay.
Just before 11 am on Monday morning, 6/26, firefighters were called to an under-construction residential building in Queens, New York after concrete scaffolding and formwork collapsed during a pour.
Two construction workers in Sarasota, Florida were recently trapped 15 stories in the air after one of the lines on their suspended scaffolding snapped. One of the two men was able to be pulled to safety by some co-workers on site, but the second was stuck on the scaffold for an hour before the fire department could rescue him.
Fiskars was first founded as a Finnish Ironworks company in 1649, making it one of the oldest companies I have heard of that is still going strong. Recently – relatively speaking - in 1967, Fiskars made a name for themselves with their orange handled scissors. Noted for their build quality, sharpness, and durability, these scissors quickly became an industry standard and a leader in the category. Since then, Fiskars has expanded into other areas of the home and outdoors. You may also recognize the name Gerber, as this is one of the brands Fiskars sells under.
For over 60 years, nominal lumber dimensions have been used in lieu of actual dimensions for lumber. That fact hasn’t stopped 2 class action suits, one for Menards and one for Home Depot, from being filed by an Illinois law firm over the size discrepancy, according to the Milwaukee Journal Sentinel.