Contractor Success Map With Randal Dehart | Contractor Bookkeeping And Accounting Services

This Podcast Is Episode Number 416, And It's About If My Construction Business Is Making A Profit Where Is The Cash Some construction business owners find themselves in the difficult position of running a business that appears to be profitable but still having no money in the bank. It's a critical situation to address. After all, a lack of adequate cash flow is one of the leading causes of small construction business failure.    Here are three reasons why profitable construction businesses have little money in the bank and what company owners can do to handle these tricky situations.  1. Using business money for personal reasons Owners may be using their business bank account as a personal bank account, withdrawing the money as they see fit. Of course, business owners need to earn a living. Instead of using the business account as a personal account, you should give yourself a wage and transfer that from the business account to your personal account at set intervals. If your personal money runs out, you can