Have you been considering setting up your very own construction company? This is a great idea for anyone who has spent the past few years getting experience in the construction industry working full-time at a company. However, it’s not exactly a walk in the park. Setting up your construction company will certainly come with a few issues that you will need to overcome. But if you follow these dos and don’ts, you should find that it is easier than you expect.
Do Get Insurance
First and foremost, it is incredibly important that you get the right insurance cover for your business. This will protect you financially as it will cover the costs that are incurred by any lost or stolen equipment, injury on your construction sites, and legal fees. Of course, you need to make sure that you are paying for a fully comprehensive insurance policy so that you are insured for as much as possible. Make sure you look at the small print on all policies so that you know exactly what you are paying for!
Don’t Scrimp On Staff
It is super important that you invest in top quality staff. As it will be all your employees who are working on your company’s jobs and projects directly, they will have an impact on the results. And it will certainly show if you are investing in the top people! So, it’s worth budgeting for high salaries so that you attract some great talent to your team.
Do Think About The Environment
In this current day and age, the environment has to be a number one priority for all companies, especially construction ones that have a direct impact on the ecosystem. You will need to make sure that you are correctly getting rid of all your rubbish and waste materials with a dump trailer and skips. You then need to take all your waste to a rubbish site that will deal with it all in an environmentally friendly way.
Don’t Do Any Side Projects
Once you set up your construction company, you might find that quite a few of your friends and family members approach you about some jobs that they need doing. Of course, you might be happy to do these for a reduced fee and cash in hand. However, it’s not a good idea to do these kinds of side projects that are cash in hand. Whenever you work for money, it really does need to go through your books so that it is a legitimate transaction. Otherwise, you could get in a whole lot of hot water!
Do Keep On Marketing
There’s no reason to ever stop marketing, even if you are very busy with lots of projects. You never know when the work will dry up and you need to start finding new customers and clients. So keep on keepin’ on with your marketing!
Hopefully, all of these dos and don’ts will help you make your new construction start up a huge success! Good luck with it all!