Contractors face unique challenges maintaining working capital and securing adequate financing. This is because of the unique business model under which most contractors operate. Typically, a construction contract involves a builder or developer who has an underlying loan. The loan terms generally involve the builder...
As the year approaches the end, it is time to focus on what steps we could be taking to increase business during 2019. On this front, there is plenty of good news for small businesses, particularly those who are designated as minority-owned, those businesses which...
Small and medium-sized businesses often face temporary cash flow problems, especially if they don't understand borrowing against accounts receivables. The difference in time between issuing an invoice and getting paid for that invoice is often between 30 and 90 days. This delay in receiving payment...
When you have a need for cash, and you prefer to not borrow money, one option is to get a cash advance on your invoices. Invoice lending, more commonly referred to as factoring, is used by small and medium-sized businesses to help meet their cash...
U.S. presidential elections are a marathon, not a sprint, and this race has been exceptionally grueling—both for the candidates and the public at large. But more concerned than the average U.S. citizen are small business owners, who have responded to the uncertainty by delaying new...
Stalled growth, disappearing jobs and a sense of foreboding are the defining characteristics of today’s economy. So, what or who is to blame? According to one theorist, the process of “creative destructions,” whereby the death of one business or industry gives rise to another, is...
After another harsh winter, the American economy is stabilizing and beginning to shrug off concerns of a prolonged slowdown or recession. According to the latest economic gauges, industrial production is increasing, inflation is firming, and the housing sector is continuing to pick up momentum. All of...
2015 was a picture-perfect year for construction, a banner year for the post-recession. Yet in 2016, many contractors in the United States are struggling to find financing for construction projects. The lack of financing has been a reality even over the past several years with the...
The U.S. economy's sluggish start to the year is validating the wait-and-see approach the Federal Reserve has taken with raising interest rates. Business investments, constrained by falling corporate profits and diminishing exports, and held back by the strong dollar, have both played their role in the...
New York State has experienced much warmer temperatures over the past thirty to forty years, and the sea level along New York’s coast has increased about 12 inches over the past 100 years. Though past trends do not necessarily predict future trends, New York officials...