How to Start Up Your Own Construction Business
So, you’ve finally finished that apprenticeship. You’re a newly qualified construction worker looking to make a mark on the industry. You can, of course, join a reputable company and enjoy the many benefits associated with that kind of work. Or, you can be your own boss by starting your own construction company. If the latter appeals to you, here are some tips on how to get off to the right start.
You can’t start building straight away. If you’re looking to start your own construction business, you need to steel yourself and get ready for some gruelling paperwork. You need to obtain licenses, permits, surety bonds and insurance before the first brick is put down.
A construction licence will enable you to work legally in the field. Do the necessary research to find out what you might need in order to get one – some of the requirements may be state-specific, after all. Insurance for your business is vital. This will protect you and your company from the costs associated with personal injury, damage, legal proceedings and other hefty expenses. Insurance policies may also be reliant on state regulations, so do your homework.
What are the Rules?
The construction industry is a risky business fraught with potential dangers. It is therefore one of the most regulated businesses in the country. Brush up on all of the essential information with regards to state regulations, which include Occupational Health and Safety rules, energy efficiency protocol and others. Familiarising yourself with these rules will help you launch your business smoothly and correctly.
Before you can be approved for a license, you need to produce a detailed Occupational Health and Safety plan. It’s a good idea to consult with OHS inspectors when drawing up this outline. They will help you identify all of the potential hazards of construction work, and suggest sound emergency troubleshooting plans that will guarantee you licensure.
Note that as manager of a construction company, it is up to you to ensure that your crew members take the mandatory OHS induction training. The successful completion of an OHS induction course will grant your team – and you – a white card. This is an all-important qualification to prove that you have undertaken the required mandatory training for Occupational Health and Safety protocol. If a construction worker is caught without their white card, they can be fined up to 3000 dollars and risk receiving 30 penalty points. If, as a contractor, you’re caught hiring people without white cards, you stand to lose 11, 000 dollars in fines.
Hiring Your Crew
Hiring processes and regulations differ according to where you source your labour. Three of the main hiring pools in Australia are subcontractors, labour brokers and independent contractors. Do your research and find out how the hiring process operates for each of these sectors. Note that payment processes may also differ depending on who you’re hiring. It’s also important to know how to draw up a contract.
By following these tips, setting up your own construction business will be a smooth and easy process. As the owner of a construction company, you’ll be able to conduct business on your own terms.