| Power up, pay less — 3 strategies for managing your fuel costs |
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As the U.S. economy continues to improve overall, demand for gasoline and other energy sources is expected to increase. This could push up the price at the pump. The good news is that there are ways to manage fuel costs right now and going forward. This article offers three to consider: enrolling in a fleetwide fuel-purchasing program; using more sophisticated onboard GPS devices; and maintaining a strict vehicle maintenance regimen. A sidebar looks at different predictions of increased gas prices if proposed vehicle emission standards go into effect.
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| Contractors have options when it comes to financing |
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Although it’s hardly easy to obtain financing, the market has expanded to include many options. This article takes a look at some of the more common ones available to contractors. If taking out a bank loan isn’t feasible, getting a line of credit or a Small Business Administration loan might fill the bill.
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| E-Verify 101: What you need to know |
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Companies across the United States increasingly are using the Internet to comply with our nation’s complex labor and employment laws. And construction businesses are leading the charge. A case in point is E-Verify, the online database that confirms with virtual certainty whether an individual is authorized to work legally in the United States. This article explains how it works and the benefits it can offer contractors.
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| Construction Success Story — Cracking the WIP with new software, best practices |
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This issue’s “Construction Success Story” examines the case of an owner who used an off-the-shelf spreadsheet program to generate his work-in-progress (WIP) reports. It got the job done, though the outdated software provided only a crude snapshot of his financials. After some of his competitors merged and profitability margins suddenly shrank, these reports made it difficult to know whether there was enough cash on hand to make payroll and pay the bills each month. His advisor recommended updating the company’s accounting software. The article shows the benefits the contractor obtained by automating some best practices.
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