Setting up your own Construction Business

If you are considering setting up your own construction business you don’t necessarily need to be an expert builder with years of experience under your tool-belt. Sure it helps, but really having good business sense and being prepared to work hard are the real keys to success here.

That being said, there are some specific areas that you should always consider and work towards if you want to make your new construction business a success.

Establishing your Goals

First and foremost, you need to set a clear action plan for your business from the outset, much like the construction of a building you need to start with the foundations. Consider what you would like to have achieved in the next month, then six months and within a year; when you come to review these targets, if you’ve stuck to them you know you’re working well, if you’ve surpassed them it’s a bonus and if you’re behind you can look at where you need to pick up the slack.
Qualified and Legal

You must set up your business in accordance with the laws and regulations in place that are required. If you are unsure, conduct some research to find what licences, permits and qualifications you need to begin your building operations – after all you want your business to be professional and legitimate right from the beginning, as this will appeal to your prospective customers.

The Right Insurance

Like with any business venture you need to have insurance, if you are unsure than contact a reliable Insurance provider about what specific cover you will need in construction. More often than not you will need basic cover like:

• General liability cover
• Vehicle and Property protection
• Workers’ Compensation cover

There are other specialist covers you may find worthwhile investing in, dependant on any other specific risks that you believe might apply to what you intend to do.
Employees and Equipment

The largest asset to your business will be the construction equipment that you invest in. As a business, you need to decide which equipment is going to meet your requirements and how you can use this to your competitive advantage

You need to decide if you are going to employ contractors or permanent staff; the former allows you to network and source other specialist workers to improve your quality of service in particular areas such as: plastering, plumbing or electrics.

Buying brand new gear can be very expensive – particularly for a new business – you can however make great savings on used machinery and equipment from a reliable seller like Scot JCB; not only is this a cheaper alternative but also the machinery is still in working order and the extra money saved you can invest in future endeavours.