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A 2024 Outlook on the Construction Industry: 7 Emerging & Continuing Trends

A 2024 Outlook on the Construction Industry: 7 Emerging & Continuing Trends

Heading into 2024, construction professionals encounter familiar hurdles: recession worries, ongoing inflation, higher interest rates, labor shortages, and supply chain issues. Despite these challenges, there are strategies to navigate them successfully and position your company favorably. Here are seven key trends and solutions to consider. Labor Shortages Remain The construction sector faces a growing skilled…

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Reviewing Contracts in the Construction Sector

Reviewing Contracts in the Construction Sector

As we conclude the year, it’s crucial for those in the construction industry to conduct a thorough review of their contracts, especially for long-term projects. It’s advisable to revisit your contracts to confirm they accurately represent the current state of the project. Any discrepancies should be addressed and documented immediately, rather than waiting for issues…

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Happy Holidays- Dec. 2023

Happy Holidays- Dec. 2023

To Our Construction Bonding Specialists Friends & Customers, Happy Holidays! We appreciate your business and look forward to working with you in 2024. From all your friends at Construction Bonding Specialists __________ For information about our surety bonds, contact us today! At Construction Bonding Specialists, we work with new and experienced contractors to find the…

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Construction Industry Tops Ransomware Risk, Says Encryption Software Study

Construction Industry Tops Ransomware Risk, Says Encryption Software Study

Nordlocker, an encryption software firm, conducted research in 2021 and found that the construction industry faced the highest risk of ransomware attacks among 35 analyzed industries. This risk has increased since then, with Nordlocker reporting in 2023 that the construction sector experienced the most ransomware attacks from January 2022 to January 2023. The construction industry’s…

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Understanding Mortgage Broker Bonds

Understanding Mortgage Broker Bonds

For many aspiring mortgage brokers and seasoned industry professionals alike, the term “Mortgage Broker Bond” can seem like a puzzling requirement on the road to doing business legally. However, understanding what a Mortgage Broker Bond is and its significance is crucial in the world of mortgage lending. In this blog article, we’ll break down the…

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Small Bond Applications for Contractors

Small Bond Applications for Contractors

In the world of construction, bonding plays a crucial role. For many contractors, obtaining a bond isn’t just a mark of credibility, but also a legal necessity for many projects, especially government ones. For those who are unfamiliar or just starting, understanding the smaller nuances of bonds can be daunting. One of the initial steps…

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