Why Payment Delays Are Killing Small Contractors (And How to Beat Them)

On today's episode of The Daily Windup, our guest shares insights on the shortage of subcontractors, leading to difficulties in finding reliable suppliers for projects, especially in certain regions like South Florida. We discuss the impact of subcontractor performance on projects and explore strategies for handling escalating costs in government contracts. Negotiating fair prices and creating a level playing field for subcontractors are essential considerations. We also explore how to build the capacity of small businesses to handle larger and more complex projects and the importance of upfront conversations with stakeholders to avoid surprises. Lastly, we touch on the significance of timely payments to small businesses for a smooth workflow and project success. Join us as we uncover valuable lessons and actionable steps from our guest's experiences. Remember, The Daily Windup is all about 10 minutes of action with zero time wasted. Tune in tomorrow for more exciting insights and success stories from the world of entrepreneurship. Stay inspired and stay tuned!