Budget Basics for Your Construction Business

1
Budget Basics for Your Construction Business
2
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.
3
Construction Budgeting Tips
4
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

5
Reduce Expenses When You Can

• Utilities and Operating Expenses

• Tools and Equipment Costs

• Job Estimates and Expenses

• Marketing Expenses

6
Shop Around, Source Materials
Youre 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 youre getting the best support and
prices for materials.
7
Its 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