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!
Rhode Island: neither a road, nor an island. Discuss.
One of the biggest hassles of site work in construction is the hauling away of spoils. It’s costly and time consuming to bring in truck after truck to take unneeded soil off to an unknown dump site. When Elon Musk and his team, The Boring Company, started digging a tunnel for a HyperLoop system in Los Angeles, they knew there had to be a better way to handle to soil than to haul it away.
Last November, OSHA issued a final rule that would finally allow them to enforce language, which has been in their standards since 2010, requiring construction crane operators to be formally qualified to operate the equipment. The first day of enforcement for that rule had been set for November 10, 2018, but the agency has recently proposed a new rule that would pull back some of the initial requirements.
Florida has no doubt had its fair share of strange news stories over the past few years, not only in general, but also specifically in construction. Some have been tragic and scary, like the recent pedestrian bridge collapse that killed several people and a crane collapse that nearly missed several workers. Other stories have been down right strange, like this slow speed police chase led by a man who stole a backhoe.
Finding enough labor to complete jobs has been a problem for many companies in the construction industry over the past few years. Amid a construction “boom” in many areas, general and subcontractors are accepting jobs without enough people to work them, so some have turned to hiring “subs of subs” to supplement their work, a report published by The Tennessean says.
In March, OSHA announced that they would be enforcing their previously delayed beryllium exposure limit for the construction industry on May 11, 2018. The agency has recently confirmed that enforcement date in a memorandum on May 9, 2018.
South Dakota, home of Badlands National Park and the only mountain with US president's faces carved on the side of it, has landed at #45 on our countdown.
Welcome to another exciting year of Construction Junkie’s Best Construction Podcast competition, 2018 edition. This is our 4th straight year running the competition and this year’s already shaping up to be the best one yet.
OSHA newer and more stringent regulations regarding employee’s exposure to respirable crystalline silica officially went into effect on September 23, 2017. The new reduced the permissible exposure limit of the substance, which is found mostly in products containing sand (like concrete, mortar, and brick), from 250 micrograms per cubic meter of air down to 50 micrograms per cubic meter of air averaged over an 8 hour shift.
Maine is the first state in our countdown so far whose ranking was not dramatically affected by the cost of living adjustment, with their overall average ranking only dropping around 9 spots.