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Contractor Failure Rates

why_contractors_fail_160.jpgLast week we did a session at the Electric West show on How Project Managers Can Increase Cash Flow. Cash flow is very critical for contractors and one of the slides I wanted to make to underscore this point was the failure rate of contractors. I knew it was high but wanted to do something that would bring attention to the subject.

In doing the research I came across a great website from the Surety Information Office that had a ton of good information on it.

One of the great things they had was a short paper called Why Do Contractors Fail? It brings up dozens of great points that any contractor can use as a checklist to build a stronger business.

Remember that surety companies bet their own money on your success or failure. They know a lot about the indicators that a contractor will fail. Having a good relationship with a surety is one of the best things a contractor can do to stay healthy.

Posted by David on February 28, 2007 08:58 AM|Permalink

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