5 Essential Elements to Start a Construction Business

Starting a business is not an easy task especially if it is a construction business. A successful entrepreneur, who is leading in the industry can tell you what it takes to lead in the corporate world. Furthermore, most leaders say, whether your destination is any place on this planet, or a position in the corporate world, to reach somewhere in the right time you must follow the roadmap.

Few elements to consider before starting a construction business

1. Begin with a business plan

A roadmap is required to reach somewhere. Similarly, to start a venture, a business plan is required. A business plan explains where you are at present, where you want to take your construction company and what strategies you are going to use. Further, it helps in securing funding. In short, a business plan consist, a brief business description, financial factors, and marketing strategies.

2. Find financing

Nowadays, a number of sources are available to get funding, start looking with your own savings. However, if your savings are not enough, no worries! You can approach various banks, financial institutions, and investors. Another option is deal making, if you don’t have enough funds, you can go for partnership deed. According to which assets, liabilities, and other expenses will get distributed between partners as per deed. Also, the burden of funding will get divided.

3. Obtain licenses

To start a construction business, every contractor needs a business license. Therefore, investigate with the courthouse located in your country to know what permits and licensed are mandatory for the construction business. Further, it is mandatory top secure particular state licenses. Moreover, you can search on the internet for a suitable spot from where you can get a state license and permit requirements.

4. Put the right insurance in place

An understanding of insurance is very essential in such business. In most cases, various states and construction contracts required valid workers compensation insurance which is carried out by contractors. Furthermore, other mandatory coverages to consider are a general liability, professional liability, builder’s risk, etc. Approaching an insurance provider with excellent experience can make a contractor understand how to shelter a company from the beginning.

5. Get bonded

In several states, it is mandatory for contractors to get a collateral bond to become licensed. However, the amount of license bond varies by state. Sometimes, even your customer can also ask you to obtain further performance and payment bonds for specific projects. As we know, performance and payment bonds are mostly used on government projects, this is why their use is growing on privately funded projects as well.

Final Words

In life nothing comes easy not even a success, so, never hesitate to learn something new. If you are planning to start a construction business and want to reach the top, consider these points to create a win-win situation!

Top 10 Manufacturing Business Ideas in 2019

The Manufacturing Industry in India accounts for about 18% of total GDP employing 12% of India’s population directly. Among the humongous manufacturing sector, SME and MSME accounts to 90% of the totally industry activity and with new policies like The National Manufacturing Policy, the industry is looking to contribute more than 25% to GDP and employing over a 100 million workers. Some of the most profitable sectors among them are:

Agrochemicals – India is ranked as the fourth highest producer of Agrochemicals in the world. Agriculture being the largest employer and known as the primary sector of the economy of India,it has created an operational sector of never-ending need of agrochemicals making it one of the high profitable manufacturing industries. The firms vary from large scale to small scale manufacturing firms that can be and are set up in villages. It is projected to reach a market of US 269.7 billion by the year 2022.

Automobile/Auto Components – India is predicted to be the third largest manufacturer of automobile in the world by 2025. In a survey in April 2018, just in one metropolitan city of the lot in India; Bangalore showed the results of 4,000 new registered vehicles added to road every single day. This obviously boosts the Auto Component industry which vary from large scale to small scale manufacturing, the exports of components in India stood at INR10.90 billion in 2016-2017. In the Indian export industry, Automobile ranks third with the valuation on US $14.5billion.

Pharmaceutical Industry – India is the largest provider of generic drugs globally. The domestic pharmaceutical sector accounts for 3.1-3.6 % of the global pharmaceutical industry in value terms and 10 per cent in volume terms. In a 2017 report, there were 10,563 pharmaceutical manufacturing firms (inclusive of large- and small-scale pharmaceuticals) under the ‘Directory of Pharmaceuticals Manufacturing Units in India’.

Textile Industry-Starting from the colonization till date India is known for its cotton and use of cotton in textile. As per the Ministry of Textiles, the Indian textile industry contributed about 14% to industrial production, 4% to the country’s GDP and 13% to the country’s export earnings in 2017. India is appeared to be the largest producer of cotton and second largest exporter after China. The industry employs about 40 million workers directly and 60 million indirectly.

Food and Beverage – The F&B industry stands fifth largest in manufacturing sectors. It was ranked 13th largest receiver of Foreign Direct Investment in 2017. By market size India stands fourth in the world for the overall F&B industry making a revenue of $200 billion. India is largest producer of pulses, milk and second biggest of rice, wheat, fruits and vegetables. The category constitutes about 40% of its Consumer Package Goods.

Gems and Jewellery – The Gems and Jewellery sector play a noteworthy role in the Indian economy as it contributes to about 7% of the country’s GDP and ranks as India’s major exporter constitution 15% of total exports resulting in $42.6 billion.

Packaging Industry– Ranked as the fifth largest sector of India’s economy with $32 million in 2015, it stands as a salient sector for most of the other segments of the industry. By the increased standard of living the stigma of packed good to have higher value is ingrained in the minds of the consumer and this has resulted in the growth of the packaging industry. This industry is backed by various other industries without relying on just one sector and so will forever bloom even with the changes from plastic to paper and cloth.

Glass Manufacturing – The per capita consumption of glass in India is 1.8Kg. With applications in large no of areas such as architecture and construction, most of the buildings from malls to office buildings and apartments use glass as well as fiber glass as walls and doors as decor. India’s glass export stood at $639 million which has shown an immense growth from $225 million in 2012.

Rubber and Rubber Products– India is the World’s largest producer and third largest consumer of natural rubber which produces more than 35000 kinds of rubber products. It is used for domestic as well as for international trade whose export was recorded as $5 Billion per annum.

Metal Sector – Raising its demand in automobile, capital goods and infrastructure, Indian metal players remain profitable in their sector. India is ranked as the third largest steel producer with production of 101.4 million tonnes of crude steel. GOI has allowed 100% investment in the sector along with exploration in the metal and mining sector which would boost the sector.

Finding a Cancer Cure Would Put the Cancer Care Industry Out of Business!

Legally, I can’t tell you that monatomic gold cures cancer, even though scientific studies have shown that cancer patients taking monatomic gold have experienced improvement in their condition. For now, I’ll just relate my viewpoint based on what I’ve read and what I’ve experienced.

I’ve never had cancer, but my mom did. She died from the TREATMENT! Her father had cancer and died. My dad’s mom had cancer and died. There’s a lot of conjecture in the medical community as to the causes of cancer. Before the industrial revolution, cancer cases were rare. Many effective cancer treatment protocols were developed prior to 1950’s, but these treatments were suppressed by the mainstream medical establishment at the behest of the pharmaceutical corporations. One natural cancer therapy that I can’t legally tell you actually works is cottage cheese and flax oil. That’s pretty simple, and totally non-toxic. Won’t kill you like chemo-therapy might, like radiation probably will.

A mineral supplement derived from gold, called monatomic gold has been used by ancient cultures throughout earth’s history as an aid in spiritual ascension. Modern scientific research has shown that subjects taking monatomic gold show an immediate increase in brain synchronization, leading to stress relief. Legally, I can’t tell you that stress causes cancer. I also won’t tell you that de-stressing will cure your cancer.

It’s also been observed that monatomic gold repairs DNA. It’s the DNA that tells the cells what to do, when and how to divide, whether to be healthy or unhealthy. Exposure to environmental toxins like petro-chemicals can damage the DNA, leading to cancer. Certain supplements have shown to aid in detoxification of these unnatural chemicals. Would you be surprised to discover that many pharmaceutical drugs are synthesized from petroleum? What connection do you think might exist between the petroleum industry and the pharmaceutical industry?

Before the prohibition era, Henry Ford produced automobiles designed to run on pure ethanol. John D. Rockefeller of Standard Oil fame used his influence to push for the prohibition of the sale of alcohol, not to stop people from drinking, but to shut down the fuel competition from Ford’s ethanol production. Ford had filling stations that were ethanol-dedicated, garnering some 25% of the fuel sales in America. Then came prohibition. Ethanol is a clean-burning fuel, producing no toxic emissions. Petroleum based fuels and petroleum refinement to make gasoline and diesel fuel produces cancer causing toxic by-products. Some of these waste by-products are used in the manufacture of cancer drugs and other pharmaceutical drugs. Read the lists of side-effects! Jeesh!

It’s time we grow up and start thinking for ourselves. Television gets most of it’s ad revenue from drug ads! Television also uses subliminal messages to program the subconscious mind to action. It’s also been discovered that brain-waves of television watchers are identical to brain-waves of subjects under hypnotic trance!

My experience taking monatomic gold is my mind is sharper. My dreams are more vivid, and I experience a greater since of synchronicity of experience. You know those “Aha!” moments? So, how might having access to a greater mental capacity effect your ability to handle health challenges? Do you think you might be able to better sort it out for yourself, rather than just blindly following the advice of some oncologist who has yacht payments to make?

To life!