If you run a construction company, it is all too easy to think that your expenses are set in stone, which can make it tough to know what to do when you’re going through a tough time financially. The good news is that there are actually a number of things you can do to save money and cut costs in the construction industry. Here are just a few of them:

Hire Your Equipment

If your construction company is small, you might not have the finances to invest in every piece of machinery that you could conceivably need, which is why you should consider simply hiring the machinery you need for more specialized jobs only when you need it. For example, you can hire Auslift boom lifts at very reasonable daily rates, so if this is a piece of equipment you only need, say a handful of times a month, that will result in savings in the thousands.

Buy Used Equipment

Another method that could save you thousands of dollars without leaving you in a tight spot is buying used equipment. There are lots of websites, auction places and individual construction businesses who are offering their equipment for sale at much lower than the market value new. Just make sure that any equipment you buy is up to standard and will not break down on you days after handing over your cash.

Sell Equipment

On the other hand, if you have some construction equipment that you no longer use, you might be able to make a quick buck and get yourself out of a financial hole by selling it to another company who have a use for it.

Check Your Insurance

It isn’t always the case, but quite often, you might be able to change the level of insurance your company has, depending on the type of work you are doing. Some jobs are obviously riskier than others, so when you switch between them, you won’t need the same level of coverage as before. Try to find a flexible insurer, and you could save a substantial amount over the years.

Use Agency Staff

If you have a big job on, but you can’t afford to put more staff on the payroll, you might find it cheaper to hire agency staff for the duration of the work. Your financial burden when doing so is likely to be much lower, and you’ll still be able to get the job done on time and keep your reputation intact.

Advertise Online

All businesses need to advertise if they are to get as much work as possible, and the construction industry is no exception. If you want to get your message out without breaking your budget perhaps the best way to do so is online. Sign up to all the most popular social media sites and start your own website, fill them with regular content, hire an SEO expert  and pay for a Google ad or two and you should soon see a steady stream of inquiries about your services.

Are you in the construction business? How do you save money?