Rise in material costs impacts builder's profits

With the economy continuing to improve, builders are being advised to keep a keen eye on their margins or risk making a loss.

‘Working smart’ solutions, from HBXL

The day-to-day running of a business is important, but taking the time out to make sure your processes are efficient and you’re working smart will make both everyday business tasks, and future ones, so much easier.

Hidden benefits I : Margins tight? How to eek out more profit with EstimatorXpress

It’s tough going making money in building on a good day in a buoyant year! The bad news is that figures from the Federation of Master Builders suggest that 70% of SMEs surveyed believe material costs will rise in the next 6 months, whilst just 20% consider they will be in a position to raise output prices.The inevitable result is a continuing squeeze on margins at both ends.  (BM Magazine).

To stand any chance of making some money you have to make sure your initial budget is as realistic and comprehensive as possible. Being able to drill down into the costs of a project allows you to have a complete picture of where your money is going and keep tabs on expenditure.