The Nuts and Bolts of Starting a General Contractor Business

Feb 28, 2020

The Nuts and Bolts of Starting a General Contractor Business

According to results shared in the NFIB Research Foundation’s latest Small Business Optimism Index report, now is primetime for small businesses in America. The organization has tracked entrepreneurial trends since the Nixon administration, and all aspects of the current data rank in the top 10% for the survey’s 46-year history.

“2020 is off to an explosive start for the small business economy, with owners expecting increased sales, earnings, and higher wages for employees,” explains NFIB Chief Economist William Dunkelberg in the report. “Small businesses continue to build on the solid foundation of supportive federal tax policies and a deregulatory environment that allows owners to put an increased focus on operating and growing their businesses.”

This is great news for anyone thinking about starting a business, as the strong sales and earnings reflect a healthy business climate with plenty of forward momentum. If you’re starting a general contractor business, however, you’ll need more than just good timing. The complexity of the industry requires you to also have robust experience in the field, which is 1 of the key differentiators that emerges between successful businesses and those that aren’t able to make it to the year mark.

“Starting your own business is no small feat, and becoming a general contractor requires a special set of skills and knowledge,” says an entrepreneurial analysis from Home Business. “If you’re looking to become a general contractor, chances are you have some experience in the construction industry. But there’s a big difference between being an expert laborer or even a supervisor and being the head honcho of a construction project.”

Assuming you have the necessary background, you should be able to capitalize on the strong economy as you endeavor to start your general contractor business. This guide will highlight some of the crucial steps in that process.

About the Author

Grant Olsen

Grant Olsen

Grant Olsen is a writer specializing in small business loans, leadership skills, and growth strategies. He is a contributing writer for KSL 5 TV, where his articles have generated more than 6 million page views, and has been featured on FitSmallBusiness.com and ModernHealthcare.com. Grant is also the author of the book "Rhino Trouble." He has a B.A. in English from Brigham Young University.

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