Three Mistakes That Lose Money and Slow Payment—And How to Avoid Them
Post date
October 28, 2019
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By Nate Budde, Construction Executive
Managing construction payment is hard. Unnecessary complexity, hidden participants, new and intricate legislation, and more, all combine to create large amounts of financial risk. Companies working in construction, from GCs to suppliers, and equipment rental companies to specialty subcontractors all face slow payment, nonpayment and the risks associated with slim margins or the need to float project costs. Managing and avoiding financial risk is critical to running a successful construction company, but simple mistakes can derail a project, lead to bad outcomes and result in a giant payment mess.
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