Summer 2023

Here’s a brief glance at what you’ll find in the Summer issue…

Need an Exit Strategy? Consider an ESOP

Construction business owners today face a variety of challenges, including shrinking profit margins, labor shortages, supply-chain issues, and rising costs. On top of that, contractors with an eye on retirement — either in the near or distant future — may have concerns about an optimal exit strategy.

Upgrading Financial Statements to a Classified Balance Sheet

The three major parts of a company’s financial statements are generally regarded to be the balance sheet, the income statement, and the statement of cash flows. One way a construction business can improve its financial reporting is to upgrade its balance sheet from a conventional one to a classified balance sheet.

Recent Report Champions Women in Construction

Construction is an industry historically dominated by men and currently grappling with a severe shortage of skilled labor. Meanwhile, women represent less than 11% of the construction workforce, according to the U.S. Bureau of Labor Statistics.

Contractors, Keep an Eye on Where AI is Headed

Artificial intelligence (AI) has been receiving plenty of press coverage lately, much of it negative. Like many technological innovations, AI is certainly susceptible to abuse and it’s far from infallible. However, AI has the potential to transform the way contractors do business — both in the office and on the jobsite. That’s why forward-looking contractors should keep an eye on where it is and where it’s headed.

Santora CPA Group
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