Marty McCarthy’s Article Entitled
12 Financial Strategies for Construction Contractors
is Published in Construction Executive’s
Managing Your Business
Focused on You. Dedicated to Your Success.


My article entitled 12 Financial Strategies for Construction Contractors was published on June 28, 2017 in Construction Executive’s e-newsletter Managing Your Business. Both are published by the Associated Builders and Contractors (ABC).

In the article, I introduce strategies that you can implement to save money, increase margins, improve cash flow, and operate more efficiently. I recommend that you:
  1. Change payment terms.
  2. Bill ahead of costs.
  3. Give a discount for paying within 30-days.
  4. Charge interest on late payments.
  5. Consider leasing or financing new equipment.
  6. Manage material costs.
  7. Plan for the timely delivery of materials.
  8. Managing productivity.
  9. Track productivity trends over time.
  10. Use retainage funds to your advantage.
  11. Discuss loan covenants.
  12. Assess your tax elections.


Click here to read the article.


While all of these strategies are effective, there are many others to consider. Please feel free to contact me at 610.828.1900 or Marty.McCarthy@MCC-CPAs.com to discuss which strategies would make the biggest impact on your cash flow and productivity. I am always happy to help you make more money and grow your business.

 
Martin C. McCarthy, CPA
Managing Partner
McCarthy & Company, PC

Disclaimer:   This alert is for informational purposes only and does not constitute professional advice. Information contained in this communication is not intended or written to be used as tax advice, and cannot be used by the recipient to avoid penalties that may be imposed under the Internal Revenue Code.  We strongly advise you to seek professional assistance with respect to your specific issue(s).