Construction Trend Data
Construction activity fell slightly in January, declining 2% from December. Total construction starts for the first month of 2012 amounted to $27 billion, down 14% from the previous January. From December to January, nonresidential construction dropped 1%, while residential building decreased 8% and nonbuilding construction increased by a modest 3%. more

Building Bonding Relationships
As project owners become more risk-averse, contractors are increasingly being asked to post construction bonds when bidding for projects. Contractors are generally required to be bonded for government projects, and many private owners also seek to protect their interests through bonding. To ensure that your company is able to get the bonds it needs to compete successfully for projects, you should maintain a strong relationship with your bonding agent and surety company by showing them that your firm is financially solid and capable of meeting its obligations. more

Coping With the Rising Cost of Construction Materials
Even as the real estate market remains soft in many parts of the country, the prices of many key categories of construction materials have continued to rise, putting pressure on contractors’ profit margins. To avoid losing money on projects, and to lower the risk of conflicts with clients, your company should have strategies in place for coping with material price volatility. more

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