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 (firstname.lastname@example.org).
Hello, W orld!
Almost 18 months ago, an under construction pedestrian bridge on Florida International University’s (FIU) campus collapsed, killing 6 people and injuring another 8. While many investigations have closed, including OSHA’s scathing report, families of victims and survivors have been awaiting the results of civil lawsuits filed against the companies in charge of the projects.
There’s no doubt that building rectangles in construction is much easier than making round objects, which is why building a 366 foot tall sphere in the middle of Las Vegas really caught our eye.
According to the most recent data from the Bureau of Labor Statistics, women only account for 9.9% of the workforce in the United States construction industry. To help drive gender diversity in construction and empower women, a new conference will be making its US debut in September, called Women in Construction USA 2019.
Personal fall protection devices are extremely important to saving lives and preventing injuries due to falls on a jobsite. Half the battle is getting your team to wear harnesses, but when they do, you need to trust that the devices will work when they’re needed. 3M has recently issued an immediate stop use and product recall on two of their fall protection products.
While placing concrete on the 7th floor of a new hotel in Houston, TX, 16 construction workers were suddenly sent falling to the 6th floor below, sending 9 of them to the hospital, according to local news reports.
A recent crane collapse in Dallas, TX, that left a woman, who was in her apartment, dead, several others injured, and hundreds displaced, has triggered a local news station to dig further into what the city and state are doing to protect from these accidents in the future.
Procore, the company behind the construction management software of the same name, has launched the nomination booth for their 3rd Annual Hard Hat Hero competition, in search of the workers who make a meaningful impact to the world of construction.
Last year, over 130 organizations petitioned OSHA to issue a heat protection standard, citing needs for mandatory rest breaks, PPE, hydration, and monitoring. On July 10, 2019, Representative Judy Chu of California introduced H.R. 3668 to meet the organizations’ request.
The combination of a low unemployment rate, an increase in job openings, and lack of available and qualified labor in the construction industry has led to an increase in hourly wages, a new report from the Associated General Contractors (AGC) explains.
The following is a guest post by Patrick Barthet.
We’re all familiar with graffiti. There’s been plenty of it around for a very long time. Those of us who live in Miami have even seen it develop into an art form. Wynwood Walls has been transformed into an international tourist attraction, exhibiting spectacular and visually stunning outdoor murals by a variety of aspiring artists. Of all the forms of graffiti, tagging may be the most popular - spray painting one’s name, initials or symbols, on someone else’s property, often times a building, a highway sign, or even a piece of construction equipment, any place where it can be readily seen by as many folks as possible.