12

Construction Business

Environment

12.1 GENERAL.

Many skilled and experienced professionals are finding themselves on their own, seeking employment

for the first time after being forced to abandon the safety of an organization that regularly delivered their

paycheck each month. As a result, an increasing number of professionals are rethinking their employ-

ment strategy. Cash flow, health insurance, and retirement dominate this strategy. For seasoned veter-

ans, there are also growing concerns over job satisfaction, location, and stress.

Let’s say that you are considering the decision to incorporate. There are seductive attractions to be-

ing an independent contractor: being your own boss, having flexible hours, and seeing the family when-

ever you like. But before making a final determination to start a construction business, there are some

things that need to be considered:

• Do you have the necessary qualifications to start a construction business? Having a few years
  of on-site experience in construction is extremely important.


• Do you possess any business training? Do you know anything about running a business?


• Starting a construction business from scratch is costly. You need to know how much it will cost
  to get the business up and running, and a sound business plan is crucial.


• Starting a construction business is not a 9 to 5 job. It will need someone who is willing to spend
  12 to 15 hours a day to get the business off the ground.


• Do research to ensure that the city where you live is not inundated with this type of business.
  Discuss with others in the trade the potential for success of a construction business in your area.
  Try to determine if there is enough work to support your new company or if there is a niche that
  you can fill.
  Make your dream of starting a construction company come true by doing adequate research and be-
  ing prepared.

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