NUMBER SEVEN – Following the housing bubble burst in the early 2000’s, many banks crossed lending and lines of credit for construction off their offerings – or, at least, dramatically tightened processes. Many subcontractors went out of business due to lack of...
NUMBER EIGHT – All construction has just one thing in common; it’s all supposed to get paid for. The most effective way to succeed in construction today is to get paid early, pay others late and to accumulate a cache of working capital to use for growth and...
Productivity in construction has actually declined compared to other similar industries NUMBER NINE – According to the US Census, construction productivity is nearly the same as it was 80 years ago. In fact, it has actually declined since the 1960’s; while...
NUMBER TEN – Construction leads all other segments worldwide for length of accounts receivable; curious little fact that hardly raises an eyebrow in construction circles, but unfailingly evokes an account of a payment-chasing fiasco that really got under...
Mom and Pop shops and businesses in the USA make up 99.7% of all businesses. According to the US Census, 13% of all those Mom & Pops deliver construction services. Seventy percent of all construction work placed is by subcontractors and most of them have 4...
Construction technology is changing and more solutions appear in the market every day, but for the small construction companies and suppliers that are the backbone of the industry, access to the latest tech just isn’t in the budget. BuildPay’s technology...
