Budget Basics for Your Construction Business
Budgeting is critical to success in the construction industry. There are a number of variables at play at any given time, and planning for those is essential. Unlike other industries, construction has a lot of estimates and job costs that change from one project to the next, but still need to be factored into the overall budget.
Construction Budgeting Tips
Keep Tabs on Your Finances • Continuous tracking of the financial state of the business is a must • You need a list of outgoing and incoming expenses • Use software and other analytical tools to organize your budget
Reduce Expenses When You Can Utilities and Operating Expenses Tools and Equipment Costs Job Estimates and Expenses Marketing Expenses
Shop Around, Source Materials You’re not limited to one store or source for the materials that you need for your jobs. Take the time to shop around, compare costs and sources, and see where you’re getting the best support and prices for materials.
It’s All About the Plan Have a budget in place from the beginning Create effective budgets for every project Consult professionals when you are struggling with financial planning www.cbs-cbs.com/ www.facebook.com/CorporateBusinessSolutions www.youtube.com/user/cbsadvisers