Your Business

 

 

Articles in this section are intended to help electrical contractors grow and improve their businesses, from financial and legal advice to creating a service and maintenance department. You’ll find articles on estimating projects and more below. 

While energy innovation enjoys a surge of popularity, one crucial element is still lacking: financing.

On a $28 million infrastructure contract, a contractor suffered an $11 million loss because of high charges by the utility companies for their part of the installation. The contractor, it turned out, got no remedy in court and, therefore, no means of recouping this major loss.


Along with many new trends that electrical contractors are finding themselves involved with these days, there are some surprises. While ECs have traditionally wired the power for elevators, much of the work has been left to mechanical contractors.

According to the Consortium for Energy ­Efficiency’s 2013 State of the Efficiency Program Industry report, “U.S. and Canadian combined gas and electric Demand Side Management program budgets reached $9.6 billion in 2013, representing a 2 percent increase over 2012 DSM budgets.

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It’s an exciting year for ELECTRICAL CONTRACTOR magazine as we prepare to launch our survey for the next Contractor Profile. Two years ago, we published in-depth research that delivered some keen insight on how wireless technology and e-commerce were being embraced by the electrical contractor.

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Online auctions present significant opportunities If you’re one of the millions of consumers who has caught the online auction bug, you already know that you can make—or save—some serious coin on the Web, simply by knowing your way around the online auction community.

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Profitable Installations
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Estimation, training and planning put you in the black What helps make your electrical contracting business profitable? Is it your estimating prowess? Is it your ability to buy your project equipment at the best price and sell it at a good profit? Is it your ability to find and keep good people?

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Fiber Optic Standards
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What would we do without them? Standards affect all of us, everywhere we go. The minute details of standards are required to allow widespread use of products and to facilitate commerce.

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