Payment Challenges, New Holdback Legislation, and 'Made in Canada' Marketing in Construction
In this episode of the Deconstruction Podcast, the hosts discuss various pressing issues in the construction industry, including the consequences of not getting paid for work, the impact of legislation on retainage, and the challenges posed by economic uncertainty. They also explore the marketing strategy of promoting products as 'Made in Canada' and its implications for businesses operating in a global market. The conversation emphasizes the importance of trust and relationships in the construction sector, as well as the need for fair practices and legislation to protect contractors and clients alike.
Takeaways
Takeaways
- The construction industry often faces payment issues, leading to frustration among contractors.
- Legislation regarding retainage is crucial for protecting contractors' interests.
- Economic uncertainty can significantly impact construction projects and payment timelines.
- Building strong relationships with general contractors can mitigate payment issues.
- The 'Made in Canada' marketing strategy may alienate potential clients in the U.S.
- Contractors should be aware of the risks involved in commercial projects.
- Trust and communication are key components in contractor-client relationships.
- Legislation should aim to create a fair playing field for all parties involved.
- The construction industry needs to adapt to changing economic conditions.
- Understanding the financial dynamics of projects is essential for contractors.
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Looking for simpler, more affordable software?
Still doing everything old-school?
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✅ Try it FREE for 14 days: https://jobtable.com/signup
