Construction companies help in making a dream project real by executing it. They are responsible for preparing the cost of materials, doing market research to get better pricing and working within stipulated work timelines. They are also responsible for registering the company and complying with laws, insurance requirements, and Occupational Safety and Health Administration practices.
Experience
When a client hires your Constuction Company, they’ll want a professional job done. That means your construction business must be staffed with skilled, experienced employees in the field and in management. Find the best talent by posting job descriptions on your website and professional social media sites, then advertising for candidates. You may also want to reach out to any industry organizations that can recommend qualified applicants for your positions. Then, interview each candidate to see if they have the experience you require. You can also look at previous job experience, such as in the military or in a related field.
Equipment
The equipment a construction company uses depends on the type of projects they do. For example, a construction business that specializes in road building will need different types of equipment than one that focuses on residential builds. Construction businesses also need to consider the cost of the equipment when making purchasing decisions. Distributor of new & used construction equipment. Products include asphalt/paving equipment, backhoe & excavator equipment, compactors, cranes, forklifts, motor graders, pavers, trenchers, wheel loaders, forestry chippers & sweepers. Rental & repair services are available. Stock items are also available.
Manufacturer of composite construction equipment. Products include controllers & LED volt meters with -40 degrees C to +70 degrees C operating temperature, mechanical jolts & closed loop controls. Custom fabrication & installation services are also offered. Additional products include generators, air compressors & safety equipment.
Licenses
The type of licenses that construction companies and contractors must hold vary by state, county, and city. Most projects will require a building permit, so it is important to know your local requirements before starting any work. Some locations may also require contractors to carry certain types of insurance, such as general liability or workers’ compensation. Obtaining a contractor’s license in New York requires multiple steps, including passing a trade exam, business and law exam, fingerprinting, and submitting a background check. Applicants must also post a bond and provide proof of financial solvency.
Applicants who plan to conduct their business in Nassau County must submit a notarized application with the Department of Consumer Affairs. They must also submit a copy of the company’s Articles of Organization filing receipt and DBA or Assumed Name Certificate, and proof of workers’ compensation coverage for employees. They must also pay a convenience fee of $125. A basic license applies to projects involving one-family and two-family homes, as well as apartment buildings that are three stories or less.
Insurance
A Constuction Company needs insurance policies that will provide financial protection in the event of an accident or property damage. General liability insurance, also known as commercial general liability (CGL) or contractor general liability, covers bodily injury and property damage that the business may cause to its clients during the course of a project. Workers’ compensation insurance will cover medical expenses and lost wages for employees who are injured or become ill while working. Most states require all construction companies and contractors to carry this type of insurance. Surety bonds, which are like agreements and not to be confused with insurance policies, guarantee that a contractor will fulfill the terms of a contract. Some examples include city/state license bonds, fidelity bonds and bid, performance and payment bonds.
Larger projects often require wrap insurance, which combines general liability and workers’ comp into one policy that will cover all parties involved on the project. The insurance experts at SEI can assist with procuring these policies and determining which ones are required for specific projects.
More Words
Reviews, testimonials and feedback are a great way to boost your construction company’s online profile. Whether used to beef up your website portfolio or improve customer service, they can make all the difference. Registering your construction business requires adhering to state and city laws. Some of these laws may be industry specific.
