Maintaining cash reserves and cash flow are challenging for many contractors, particularly those working in the commercial arena, where payment is typically issued after the work has been performed. The waiting is the hardest part, as general contractors and property owners can take 45 to 60 days or more to issue payment. Meanwhile, payroll needs to be issued weekly or biweekly and your vendors often refuse to wait more than 30 days to receive their money. So management of all this can be taxing.
But, according to construction industry experts, lackluster project management and failing to be in front of the
