Category Archives: Construction

Looking out for funds – Hunt for big investors

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If you venture out to do something big you also have to be ready with enough capital to fulfill the monetary needs of the project and in case you do not have enough money with you then the next thing will be to look out for investors who can help you get the money till you are done with the project. Any type of industry requires funding for the inception as well as the completion of the project and it has been generally observed that people who have the idea and the dedication to complete an unique task does not have sufficient money to fund the technological requirements and hence they have to depend upon people who are ready to fund them money and in return they share huge profits or have a bigger stake in the project. So there are investors for everything that you can think of and also for things that you are beyond your imagination but can be brought into existence by some intelligent brains.

Construction companies per say are always in hunt of investors. Be it constructing a hotel or building a bridge or a residential apartment they need investors who are ready to fund their project. In some countries, construction companies do not enter into a project without the consent of their investors. They do not bother to think about how beneficial it will be for the growth of the company but are more concerned about how much profit will the project be able to generate for the investors and accordingly they give their nod once they get a kind of acceptance from their investors. They may not be a normal practice but is increasingly followed by many construction companies.

The big question is how to hunt down a big investor and why will he invest his money into your project. Well the answer is simple. They only invest their money where they see scope of getting high returns in a comparatively shorter time span. So when you get hold of someone whom you know to be an investor and has been funding projects, you got to be pretty sure about your project and what return it will generate for him. Not all investor wants only money out of a project. There are few who are really interested in the type of project that they will be investing their money. So if it is something that goes in sync with conservation of nature and will generate money few years down the line, getting investors for such project is not like having a dream come true. However, finding such men is a bit difficult.

But if you are there to construct a hotel or a bar and you need investments, you will find men willing to fund you. The only clause is the project should be a big one and they should see substantial amount of profit in it. Giving an ad on a website that helps construction companies to find investors will be the right thing to do. You can also check with guys in your business circle and may come up with someone who will be ready to fund your work.

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Do your research carefully before approaching a bank for loan

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For starting any form of business, you need capital and if you do not have capital at home or in hand, it means that you need to borrow. Now the question is from whom to borrow money. There are large numbers of financial institutions who are ready to give loans to budding entrepreneurs but each of them have some or the other condition and to meet those conditions is the toughest part. Some may not have conditions prior of taking a loan but once you have taken it, you find yourself in a muddle. Therefore before you approach a bank, you should do a proper study of all their conditions and then talk to them. If you have doubts, you can clear it out while you meet them but do not keep your doubts for the next moment as that can be dangerous.

When it comes to procuring heavy equipment, you are dealing with a lot of money and if you think that buying second hand heavy equipment will cost you less than a brand new one, you are right in a way but that does not mean that it will be so inexpensive that you may not need a loan to go ahead with the deal. As long as you have allocated enough resources to procure a machine you may skip the idea of going for a loan or else many big construction companies take loan to buy heavy equipment. They feel that it is worth to go for loan because by doing that they will not exhaust all their resources and can use it well when it is most required. They need money to take care of operating as well as non-operating expenses and they never want to go short of money when it comes to meeting those expenses.

Conditions of banks prior to loan approval:-

The first thing that you need to check before you approach a bank is their terms and conditions prior to the approval of the loan. They may have certain conditions like they can approve the loan only if your credit rating is above certain ranking or points or if your annual turnover is above a certain amount. These conditions are in place so that they are assured that you will be able to pay your debts in a timely manner. Some financial institutions may even ask for your business plans and how many construction projects you have in hand. They try to seek this info to know you have work in hand and can be trusted as far as repayment of debts is concerned.

Conditions of bank post loan approval:-

Some banks have conditions post loan approval and you need to be cautious about such banks. They may not mention everything crystal clear verbally and therefore you got to read the disclosure carefully. You may find few things that you are not comfortable with. You can raise those things with the bank and seek clarification. If you find them to be satisfactory, you may proceed or else you can always pick the next option.

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Importance of the construction safety goggles for the workers to wear

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Human eyes are very sensitive and they can lose their eyesight, if they are not protected from the potential damages and threats. And while working at a construction job site, there is a high potential of threats and damages for the eyes. Hence, while working at a construction site, it is a must that a protective eye safety gear is worn by the workers. There are special construction safety goggles available in the market that are very useful for the workers to wear and work with these goggles on.

About the eye safety goggles:

The safety goggles are usually made up of high quality plastic that can withstand minor to major shock or pressure and will not break easily. They can protect the eyes from different kinds of hazards and damages. However, for different eye problems, there are different kinds of eye protective gears and goggles. One can choose the type that is most suitable as per the type of construction industry or work that the worker is associated with or works at. These are –

  • Clear safety goggles
  • Chemical splash goggles
  • Welding goggles.

All these can protect the eyes from the possible danger and damage.

Reasons to wear the safety goggles:

When you work at a construction site, there are different kinds of possible damages and danger that can not only cause you other physical harms, but can also cause permanent damage to the eyes. The most dreaded and the biggest fear for the eyes at a construction job site is the flying debris. If they get into the eyes, there is no way that the eyes can be saved.

Sometimes, there is extreme light that the workers have to work in. In such a case, it is quite difficult to look at things. Too much bright light can cause difficulty in vision and work may be hindered. Hence, wearing these goggles, you will be able to adjust your eyes to the light as the right goggles come with a protective layer or film that can reduce the frequency or intensity of light.

Factor to consider while choosing the construction safety goggles:

When you are choosing the construction safety goggles for you, it is a must that you keep the size of the goggles in mind. The most comfortable ones are those that are small and fit the eyes perfectly. However, these give absolutely no space for the prescribed spectacles to be worn on the eyes. Therefore, those, who have problem with the eyesight and have vision problem, will face trouble with this one. Otherwise, they have to wear contact lens.

On the other hand, when you choose the larger ones, there is space for you to wear prescribed spectacles inside. However, this is quite uncomfortable and also vapour is formed on the goggles and this makes it difficult to conduct the task.

Conclusion:

Now that you have understood the importance of the construction safety goggles, it is a must that you choose the best one for you. There are a number of options available in the market. Choose the one that suits your needs.

Starting a construction company in another country

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Starting a business in your home country may not be a bigger problem as compared to doing it in an alien country. You know the rules and regulations that is required to follow if you want to start a business in your country but the rules changes when you move out of your country to some foreign location and think about starting your business there. Though it may sound difficult but there are many companies who have managed to successfully set their base in a foreign land and are doing really well out there. Starting a construction company may sound to be a difficult job but as a matter of fact many countries want foreign enterprises to come to their nation and be a part of their success journey. In return you can get to use their resources and also make good money out of the deal.

Before you think of setting up your venture in some foreign land, there are few things that you should know and implement it in your strategy.

Importance given to the construction domain:-

It is important to know the government’s determination and thoughts about the construction industry as a whole. Governments in some countries may focus on agriculture more than anything else. So it will be futile to set up a construction business out there. So try to know the government’s agenda for the nation before you try to set up anything out there. Some countries are rich in minerals so setting up a mining company makes lot of sense. For that you need to have a bit of experience in the mining industry or you know someone on whom you can vouch and can make inroads in that country. Many African countries are rich in minerals and they can prove to be a great destination for mining companies. They can see a lot of potential out there. As far as construction is concerned, there are many Gulf nations where you can set your business and can expect you go a long way.

Employment opportunities to their people:-

Getting permission may not be difficult if you can manage to convince the government that by allowing you to establish the construction business on their land, it will create lot of job opportunities to its people. It will also lead to the usher of other sectors. For instance, you can construct a pharmaceutical company or a commercial complex which will further employ more people. It is a kind of win-win situation for both of you. The government will for sure take this point and you will get the sanction to start up your company out there. You should also consider the taxation laws of the country and check if you can get any sort of concessions on it.

Legal advice is important:-

Every country has its own legal hassles when it comes to setting up a business. So you need to hunt down a competent attorney who can guide you through the different laws and advice you on how to avoid hiccups that may come your way.

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Administrative and finance are two crucial departments of a construction company

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Every company has few very crucial departments without which the functioning of the company is unthinkable. Like ways, the two most important departments of a construction company can unarguably be the administrative and the finance department. It is perhaps after the consultation from the head of these 2 departments that the company can take any major decisions. If either of these departments does not give their nod, there are high chances of non-happening of an activity. If heavy equipment and construction laborers are two vital parts of a construction company on the field then the admin and the finance departments are another two vital departments off the field.

A person who wants to establish his own construction company needs to understand the workings of these two departments thoroughly and once he/she is confident that he/she can take vital decisions after understanding the functioning of both the departments, he/she should go ahead. Rest of the important parts like knowing about heavy equipment, what machine is needed for which purpose can be advised by other professionals but there is no expert per say when it comes to the finance and the admin departments. No one can guide you accurately when it comes to the finance section as they do not know your business plan and the capital you have for investment.

If only someone knows about your business plans, they will be in a position to guide you. This work is ideally done by the Head of Department of the finance section since he/she knows about most of the projects the company is working on. However, if you are the owner of small sized or medium sized construction company then you probably not be able to afford an expert and qualified person who would be heading the finance department. It is perhaps you who have to take the lead and take all the important decisions. You will definitely be having few men working under you but they can only help you with data, the rest will be your call. Therefore it is necessary to understand how both these departments work so that you have a fair idea as to where the company is heading.

The work of the admin team is primarily restricted to taking care of the employees by providing them with all the necessary means that will enable them to work in a safe environment. In case, if the employee has any problem, the first point of contact he will approach is the admin team who in turn will check how to get that resolved.

If there is any monetary involvement in sorting out the problem then they might then get in touch with the finance team and check what can be done. If it pertains to any other issue that doesn’t seek the requirement of the finance team, then the process may become a lot simpler. However, it has been witnessed in most of the cases the admin team has to work in sync with the finance team and vice-versa making them the 2 most important pillar of the construction company.

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Do not lose out any opportunity to get more business

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Generally, entrepreneurs launch their business after identifying the opportunities which are feasible, commercially viable and environmentally sustainable. Most of the entrepreneurs begin their business with a small customer base and become successful. Although small in initial stages, it helps to build a loyal relationship with the customers. This also gives confidence to the businessman that the products are satisfactorily serving their purpose. The success gained at local markets enables the idea of further expansion of business to a serve a large population and to yield more profits. However, it requires the ability to identify the right opportunity and using marketing tactics, creativity along with good networking to increase the customer base. New business-building practices with a clear cut plan are a need for further industry expansion.

Following are some of the ways in which the locally established business can expand their growth to the global markets:

  1. Building trust: Businessmen should avoid narrow focus and use more tactics to obtain potential new customers. Trust building is one of the major ways to achieve the same.
  2. Increasing the network: After having established trust one should leverage it. Entrepreneurs should be in contact with existing network of businessmen and determine who can be most suitable for their product. The customers themselves can be referrals.
  3. Construction of a relationship map: This map of identified relationships will guide in the direction whom to approach for further expansions. Example: recognizing and having a suitable partner with good contacts with clients will help to increase business.
  4. Speaking at events or hosting a workshop at a business level: Whenever a businessman gets an opportunity to deliver a speech or host a workshop it helps to demonstrate a product in front of a wider population, and helps to increase the number of customers. This effort explains the value the product or service provides so that the customer understands it usefulness. However, speeches should be short and concise.
  5. Advertising: Speeches, blogs, newsletter, an instagram post, will engage the customers in understanding the product.
  6. Offer free trail of samples of the product: Free samples of products are good way to get new customers, to obtain their reviews and testimonials. This method gives more feedback on new products and allows improvements to be made. This practice instils the value of the product and how it is better that any other product.
  7. Conducting a case study: The case study” or providing a detailed account of the benefits of your service can be a great way to get new clients. It helps to built new business, since it assumes that the service works and that the customers are happy. It increases the brand exposure, builds trust and credibility within your field.

 

Overall, it is necessary to overcome thinking in old fashioned way and generate new ideas to grow exponentially in market. There is need to stretch and increase capabilities with current

Know the different types of construction tape for jobsites before buying

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In a construction site, a number of tools and equipment are required. They not only aid in the construction process, but are also important in making the construction perfect. Though the heavy equipment or construction vehicles such as the heavy trucks, haulers and bulldozers are considered the most important ones, the smaller tools like construction tapes are equally important. When you use the construction tape for jobsites, they help in the construction process, making sure that the task is done easily and more effectively.

There are a number of benefits that you can enjoy with these tapes. These include –

  • Fixing minor mistakes
  • Protecting the damaged areas of a jobsite by covering them with these tapes
  • Controlling dust deposition on plastic sheets.

However, before you proceed on to buy these tapes for your construction site; it is a must that you know about the different options.

  1.  Painter’s masking tape:

 

Painting constructors are most widely seen to be using these tapes. The temporary dust barriers that are used in making sure that the painting surface remains dust free can be held up by using these tapes. Many a times, there are individuals, who do not take the help of professional painters while painting their house. In those DIY projects and cases, the painter’s tapes are used. They are very good in making sure that no paint residue is left on the surface. In fact, the best quality tapes can ensure that the paint does not come off, when the tape is applied on the painted surface or wall.

2.  Duct tape:

 

These are the most commonly used construction tapes. They vary in quality and thickness and also the adhesive levels also vary. Therefore, whether the tape will hold on for a long period or not; rather its durability largely depends on the quality.

3.  Stucco tape:

 

Amongst the many construction tape for jobsites, the stucco tapes of the red polyethylene tapes are very important ones. These are used during stucco application and they help in holding the plastic around the window up. With the help of these tapes, there is no need for post-stucco application cleaning of the windows.

4.  Caution tape:

 

The caution tapes do not have any adhesives. However, they are very useful in meeting with the RRP compliance laws. These tapes are used to indicate lead hazards in those construction sites, where asbestos and lead, are present.

5.  UV-Resistant Threshold Tape:

 

During construction, many a times, there can be surfaces that are exposed to the direct sunlight for a long period. In that case, the surfaces can flake down due to the exposure to UV rays of the sun. Hence, the UV resistant threshold tapes are used to protect them.

Now that you have known about the different kinds of construction tape for jobsites, it will be easier for you to know about the right type of tape that is suitable for a construction purpose. In fact, a construction company must have all these different kinds of construction tapes in their possession, so that there is no trouble encountered during the construction.

Challenges are part of the construction industry. Learn to tackle them

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When you think of starting a business you should also be prepared to take on new challenges that will come along with it. Challenges are part of anything that you do for the first time. Even driving a car is a challenge for you when you are learning it. You got to learn about the gears and brakes and also need to have good control over all its functions. This can be a real challenge for you if you are first timer but once you are in practice it becomes a cake walk. Similarly starting a new business can throw a lot of challenges but it is up to you how to take them. If you take them positively and see them as a learning curve, you will learn a lot from it and will also incorporate it in your business but if you feel irritated or scared then it will take you down and there may be a time when you have to complete wind up your business.

Construction industry is in many terms a highly rewarding industry but at the same time it will equally make your life difficult. Life becomes more difficult during the beginning. You have to foresee many things that you have never tried before and also have to take your chances. You got to be a bit brave in your effort and while you are dealing with different situations. First and foremost you will have difficulties in understanding the construction business as a whole. You have to learn how the business works and that will take good deal of time.

It is important that you do not run out of patience because if you do then you have lost it forever. You got to remain as calm as you can and analyze how things turn out. You may find people who are close to you leaving you for better opportunities and you can’t do anything to hold them. Though you need them more than they do, you are unable to retain them by offering more money. This is one of the challenges that you have to encounter and got to successfully win. Attrition has been a big problem for many construction companies. So you are not the only one who will experience this. You should be ready for it and keep a back-up ready.

Marketing your company can be another challenge that you need to tackle especially when you are new to the business. Since people do not know you, you will find hard to get work. So be ready to see no work for few days and do not get frustrated. That will lead you nowhere. Form a marketing strategy where you deploy a team who will be actively marketing your company and the business activities you can perform. Take suggestions from the marketing team and provide them with all the necessary help they require. Start it from taking up small work and once you see money rolling in you can eye for bigger projects.

Renting heavy equipment is far better than leaving it idle

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A person belonging to the construction industry has to go through different phases. Some are good, some bad and some even ugly. It is very evident that all construction companies make good money during the good times but the problem arises when the tide turns for bad and they do not have work in hand. This is when most of the companies take difficult decisions like sacking employees or disposing their resources, which heavy equipment are also a part of. It is certainly not wise to give away those expensive pieces of metal at a dirt cheap price and therefore if one has an option that can avoid them to sell the machines, they should pick that up.

Renting heavy equipment is considered to be the most viable option one can consider if they do not want to really get rid of their machines. If they pick this option, they will be able to make money on a monthly basis and can also retain the stuff once the tenure ends. This means that they never lose their title from the construction equipment and has every right to claim the machine once the period mentioned in the agreement is over.

Few things one must consider before they think of renting their heavy equipment.

Finding a taker who will take good care of the machine:-

It is very important that you get someone who will treat your machine with the same care that they would have taken for their own machine. It has been witnessed that people who rent heavy equipment use them very roughly and not care much of its maintenance. Thus, it deteriorates the quality of the machine and you may find it giving a lot of issues. In order to avoid this kind of problems, you should mention in the agreement that you can make visits to check how they are treating the machine and the visits can be in an interval of 3 months. In this way, you can ensure that your machine is in order and when you get it back, it will be working fine.

Rental contract should be in order and should protect your rights:-

When you make the rental contract with the taker, you should make sure that you pen down all the important points that will protect your rights as the giver. Please remember that you are not selling the machine that you will have no liability on it later on. You are just renting it and it should not happen that once the period is over, you get back a completely worn out machine. Also state the date by when you should get the rental money in your bank account. In case you want, you can give them some breathing space just in case they need some extension to pay the money, but that should not happen regularly. If they ask for an extension once in a blue moon, you can consider it, but if they take you for granted, it is definitely not a good sign.

 

Dependability on training videos has increased over the years

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When it comes to heavy equipment, it is mostly about how well you know about the different kinds of machines that are used in the construction site. If you aspire to become a technician, it means that you got to know almost everything about the machine so that if you ever happen to work on one you should know how to open the stuff, fix it and put it back in place. It certainly requires good deal of training and loads of practice but apart from that it also require you to learn about machines right from the initial phase of your student life (from the day you join the technical institution). If you have your basics strong, it will certainly lead you to a good career. There are few things that you can do to strengthen your basics. First would be to read as many books as you can on machines and apart from that you can view lot of training videos that is available to you on the internet.

It has been witnessed that people find training videos to be far more helpful and informative. Some though find books to have answers for all the questions. As a matter of fact, it is perhaps the mixture of both that can help you achieve the knowledge on machines more than that relying on just one particular thing. Having said that, the dependability on training videos has increased manifolds over the last few years. This is the age of internet and therefore the reading books have taken a beating. People prefer to watch the training videos more than reading books. All they have to do is download the videos in a drive and play it on their computer. It actually allows them to see how to operate a machine. The visuals then remain ingrained in their minds and this is what helps them to learn.

Also for people who have poor memory and could not recollect things so easily, they can keep playing the video as many times as they want and memorize the stuff. Other than that, men who need some sort of help in one particular aspect can search for that video on the internet and check how that is dealt with. So you do not have to go through the entire book to find just one piece of information. Entering the keyword will do the rest for you.

Most of the training videos are absolutely free. This means that you do not have to pay a dime to watch them and learn. Knowing the complexities involved with heavy equipment, getting training videos for free is not less than a bounty. Ideally, people who write books also share their videos on internet and at the end of the video they try to promote their book so that others can know about his book and if they find the video fruitful they might even go for the book. Overall, online training videos has been a huge success making life simpler for millions of users all over the globe.

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