Ratios are useful as both snapshots and video clips. For example, the cash on your balance sheet is a snapshot of your bank balances at one point in time. By the time you generate your financial statements, the cash balance has shifted.
Managing a profitable electrical contracting business demands a high level of efficiency and productivity. You push your office staff members and field employees to use their time wisely, but how well are you using financial information to gauge the results?
In 1989, the Occupational Safety and Health Administration (OSHA) issued voluntary guidelines for safety and health program management. The guidelines were based on the elements common to all programs used by successful participants of OSHA’s Voluntary Protection Program.
Last month, I offered some tips on reducing the cost of remote communication, such as letters, e-mails and telephone calls. Meetings are another source of inflated communication costs. Make a list of all meetings you held last year.
Even under optimal circumstances, it is difficult to control risk in the construction industry. Owners have certain advantages because they control the purse strings and often can obtain performance security in the form of surety bonds, letters of credit, guarantees or other protections.
You might have heard horror stories of partnerships ruining companies. That is why most electrical contracting companies are officially organized as corporations, not partnerships. However, corporations may be surprised to find a silent partner at the end of the day.
If the stock market makes you nervous with its volatile ups and downs, you may want to take a good look at a more conservative alternative to stocks—municipal bonds. Mention tax-free municipals to some investors and you will be greeted with a big yawn.
Part 1 of this series outlinedsome possible reasons for deciding to sell your business, the concept of fair market value and some factors that will influence the potential value of your company in a sale.
According to the most recent data from the United States Fire Administration, home electrical problems are responsible for an estimated 67,800 fires every year, resulting in 485 deaths, 2,300 injuries and more than $868 million in residential property loss. The U.S.
As one technology catches on, so does another. According to the Scottsdale, Ariz.-based market research firm, In-Stat, Voice over Internet Protocol (VoIP) usage is up and will continue to grow. The firm reports that 20 percent of U.S.