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5 strategies for better construction cash flow

Aki Merced Construction & Building Materials

"Revenue is vanity, profit is sanity, but cash is king." This oft-repeated adage has stood the test of time for a good reason. It is the principle that guides business owners on the importance of cash flow. No matter how successful you are in promoting your business and closing sales, operating with a negative cash flow can severely impact your operations. Here are five strategies that you can use to manage your cash better and maintain a positive cash flow.

Housing America part 5: Cooperatives — taking the profit out of shelter

Lucy Wallwork Construction & Building Materials

Housing cooperatives essentially represent the "third way" between renting and owning a property. This model once formed part of the bedrock of affordable shelter provisions in New York, but more recently has been rapidly disappearing. Often famed more for the celebrity interest they attract than their role in combating the housing crisis, some are now turning to housing cooperatives as part of the solution to the housing affordability crisis hitting many U.S. cities. However, while cities like New York have a rich history of cooperatives, they are often both misunderstood and overlooked.

Interior designer hiring slows, salaries rise

Michael J. Berens Interior Design, Furnishings & Fixtures

After several years of substantial gains, beginning in 2015, the pace of interior designer hiring has slowed. According to the most recent U.S. Bureau of Labor Statistics (BLS) data, between May 2017 and May 2018, tthe U.S. labor force added only 1,000 new interior designer jobs. That's an increase of less than 2%, and only about a third of the number of positions added between May 2016 and May 2017. Given anecdotal reports of firms in recent years having difficulty hiring needed talent, this slowdown may be an indication that the profession is nearing full employment, rather than a declining demand for designers.

More affordability lifts home sales

Michael J. Berens Construction & Building Materials

As the cost of buying a home has begun to come down, home sales have begun to go up. The economics are not complicated, but they do speak to the tension between price and what buyers are able to pay that has constrained the housing market for the past year. For the moment, the factors behind that tension appear to be easing somewhat, which should encourage more buyers to enter the market in the coming months. After two months of declines, sales of existing homes catapulted 11.8 percent in February over January’s figures. The National Association of Realtors (NAR) said it was the largest month-over-month gain since December 2015.

7 common mistakes business owners make and how to avoid them

Roberta Matuson Business Management, Services & Risk Management

I've been in business for over 20 years and have seen my share of mistakes made by business owners — many that certainly could have been avoided. Here’s my list of common mistakes business owners make, along with advice on how to avoid following suit. For example, think about a job that you worked in that didn't work out. Was it because you didn't have the skills to do the job, or was it because your values did not align with the organization's?

Credit this: Big banks step up loan approvals to small business owners

Seth Sandronsky Business Management, Services & Risk Management

Big banks, those with assets of $10 billion or more, are feeling the love for small businesses. Loan approval rates with large banks rose in February versus January, according to the Biz2Credit Small Business Lending Index. "Overall, the cost of capital is relatively low," said Biz2Credit CEO Rohit Arora, in a statement. "Small businesses are looking to secure funding, and for many companies, recent financial performances have made them creditworthy borrowers." Biz2Credit's monthly research comes from over 1,000 small business credit applications on the firm's online lending platform.

Baby boomers are changing the senior living paradigm

Michael J. Berens Construction & Building Materials

Having spent a lifetime demanding and indulging their independence, members of the baby boom generation are showing no signs of letting up as they prepare for their next life-stage. Now in their early 70s, leading-edge boomers are looking ahead to how they want to spend their later years. One thing most of them don't want is to wind up like their parents or grandparents in an isolated senior care facility. They are pressing builders and developers to give them more options to remain connected to their communities.

Sint Maarten traffic bouncing back after hurricanes, but finances are precarious

Matt Falcus Travel, Hospitality & Event Management

The Caribbean island airport at Sint Maarten, popular for its low-flying aircraft over the neighboring beach, is slowly returning to normalcy following devastation from hurricanes Irma and Maria in 2017, with more routes returning. However, a tricky financial situation is putting further pressure on operations. The two hurricanes wiped out much of the infrastructure on the twin-nation island, with Princess Juliana International Airport (PJIA) seeing its terminal out of action for months and the airfield in disarray. When flights tentatively resumed, passengers were forced to use tents as temporary arrivals and departures zones, and many of the airport's regular airlines suspended flights for a number of months.

3 venues shaping the future of sporting events

Katherine Radin Sports & Fitness

Every sports season brings a new set of hopes for fans. While many are optimistic their team will make the playoffs or win a championship, others in some areas are looking forward to gaining a new team or venue in their town. From a fan experience perspective, outdoor viewing parties near stadiums have become popular in recent years, and arenas are continuing to progress much further than one could have ever expected. With promises of holograms and gondolas, let’s take a look at the current pulse of sports venue modernizations.

Remodelers expect healthy gains, forecasters project modest growth

Michael J. Berens Construction & Building Materials

Will 2019 be another busy year for remodelers, or will demand begin to taper off? Data from recent industry studies provide somewhat contrasting views, with remodelers expressing confidence about their business prospects and industry economists foreseeing much more modest growth for the year. One point on which they both agree is that market and demographic trends will sustain positive demand for remodeling services for several years to come.

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