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Building Resilience: 5 Ways Contractors Can Shield Their Business in Times of Economic Uncertainty

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Economic turbulence in the construction industry can cast a shadow on growth and stability for contractors. It’s vital to adopt strategic measures that not only shield you from risk but position you for growth. We’ll explore five ways you can proactively stay ahead of contraction and how STACK’s got your back at each step. 

1. Always Be Bidding

No matter what you do, you can’t predict every problem or added cost in a project, and you never know when you’ll need that next project to bail out the unprofitable job you’re finishing now. With no pipeline of new work, there’s nowhere to find the cash flow needed to cover yesterday’s struggles. Take action now to mitigate risks by nurturing relationships, making your precon precise, and looking further into the future. 

STACK’s Got Your Back

Perform faster takeoffs increase your win rate with our comprehensive takeoff and estimating solution. STACK enables more accurate measurements and saves you time, allowing you to make better bid decisions.

Having someone who knows what they’re doing at the controls can more than double the amount of productivity in your business. We’ve tripled the number of bids we put out with STACK.

"Continuous bidding should be on every contractor's priority list. Consistency is key: you'll retain employees, hold onto better contractors, and expand your business as your work expands." – Phil Ogilby, STACK CEO & Co-Founder

2. Mitigate Cashflow Constraints

Traditional bank loans can leave contractors in the lurch with long repayment cycles. You can look at bigger projects if you have the cash to fund them, so seek out financial partners with construction-specific programs that let you pay for materials upfront and have cash on hand for other expenses. Optimizing payment terms with suppliers can also ensure a smoother cash flow. 

STACK (and Billd!)’s Got Your Back:

Eliminate money worries with the