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. 

This tunnel lighting is part of Birmingham’s total lighting upgrade.

The City of Birmingham, Ala., announced a new project designed to upgrade its current public parking garage lighting to energy-efficient, connected light-emitting diode (LED) lighting. The retrofits are expected to save about $375,000 per year.


Credit cards typically apply interest to late payments. This interest factor, which may be 18 percent or more, can be viewed as a form of liquidated damages (LDs). The base amount owed is not liquidated, because it depends on your balance, but the percentage is liquidated, or fixed, by agreement.

Most of the 3.5 million residents of Puerto Rico have spent two days without power as the result of a fire at Aguirre power plant in the southern town of Salinas, according to the Associated Press.

For renewables and energy efficiency, effective storage technologies are a key ingredient to their continued success. For its part, the battery industry is keeping up. According to a recent study by the firm Navigant Research, the market for next-generation battery technology is ready for growth.


More on Your Business

 
LEEDing Edge

Building owners are becoming increasingly interested in sustainable construction and having their buildings certified under the U.S. Green Building Council’s (USGBC) Leadership in Energy and Environmental Design (LEED) Green Building Rating System.


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Power Hour

Why don’t electrical contractors spend more time reviewing their financial statements? How much time does it really take to do a financial self-examination? Do you have to be an accountant or financial wizard to evaluate the status of your financial health? It might be easier than you think.


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Estimating Blind

As the economy stands on firmer ground, privately funded buildings are coming back to life, bringing a surge of design-build projects with it. This is very good news for estimators, because more buildings mean more work to bid on and win for the company.


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ESOP's Pitfalls

The first two parts of this series have explored the concept of the Employee Stock Ownership Plan (ESOP) and the potential advantages of establishing one for your contracting business. This month, we will discuss some of the possible pitfalls.


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LEEDing Electrical Installations

More and more companies want to be recognized as being environmentally conscious. One way that they are demonstrating their commitment to a cleaner environment is through green construction.


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Pay Your Fees!

It is already the month of May—I know, I can’t believe it either—and the feeling of spring is in the air. Spring typically means warmer weather, longer days to get the estimates done and, of course, your annual tech support fees are due.


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A Field Guide

Written contract forms grow by mistakes. Contracting parties, particularly owners and architects, discover that some issue or dispute was not covered to their satisfaction. The next draft of the contract is supposed to take care of that perceived gap.


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