As the former project manager of two construction companies, Marg Kronfeld had quite a few run-ins with business owners over the years. With the construction business once again booming – along with the commercial construction market – those who try to make an impact now can look forward to new opportunities. To reach their goals, however, one needs to follow certain rules and guidelines.
Find Mentorship
Construction is a field where experience is crucial. If you represent a small business, there are programs that you can take advantage of, like SCORE Mentors, or a local SBDC (stands for Small Business Development Center), where you can find a mentor from a construction company. Their experience and the guidance they can offer are invaluable.
Financing
In an ideal scenario, you have your own savings or private funding, but if that is not the case, you can still take advantage of traditional bank loans or governmental loaning programs. These often support small construction companies that construct buildings which would improve the image of the city.
Licenses and Insurance
One of the most crucial aspects of being successful in the construction field is having all the necessary qualifications and licenses, and even those that, while not necessarily mandatory, can help a business to a great degree. People choose companies that they can trust, and in the grand scheme of things, companies without the right licenses cannot really be trusted.
Marg Kronfeld worked with many contractors throughout the years, and managed to build with them lasting professional relationships.
Sources: https://www.sba.gov/blogs/how-start-small-construction-or-general-contracting-business
Marg Kronfeld 