Risky Business – Risks Contractors Experience in the Industry

As a professional contractor there are a few risks that come with the field and industry. The profession of a contractor is one that has risks that can sometimes be prevented; however, there are also times where certain scenarios just can’t be avoided. We look at the top five risks that contractors face being in this industry.

1. Injury - Whether its an injury to the contractor itself or to someone on site, an injury can prove to be a risk to a contractor and his site that can not only impact the site itself but the completion of project on time. Injuries can be damning especially if it is a serious one that can leave the individual handicap or unable to continue work. Taking preventive measures to ensure no injury takes place is a major step for a contractor - whether they are managing or leading the site.

2. Budget - Without a budget, no contractor or construction worker can proceed on a job. Sometimes however, a project can hit complications - one such complication is that of a proper budget. Sometimes you will have contractors who provide clients with a quote and that is all a client will allot; however, if for whatever reason the costs increase, the client may be forced to pay more unexpectedly. If a client is unable to pay this can risk the progress of the job and make it difficult for the job to be completed making the budget a risk that a contractor and or construction worker experiences.

3. Weather - Depending on the location and country, sometimes the weather can be a major risk to the contractor. From delaying the actual project but also making the working conditions dangerous. For example, when the weather has been rainy and wet - depending on the environment this can make floors slippery, wood panels (depending on type) unstable and more importantly, if the environment is that of a wet one, it can result in the potential for mould and other dangerous and risks for the contractor and clients.

4. Staffing - Just as weather is sometimes unpredictable, staffing can be too. There can be anywhere from a shortage in bodies to find to work to ensuring the proper qualifications and certifications to ensure that the person hired for the job is qualified. For example, one would not want to hire a drywall installer or a panel installer if they did not have or understand the basic foundations of their job and task at hand. As a contractor and construction worker, having the proper knowledge, experience and certification can make a load of difference. In some circumstances as well, the issue or rather risks that come with staffing is that, if the person is out on injury whether it be from the actual job itself or something different, an injury of sorts can impact the project and the timeline for completion.

5. Competitions - In a niche specific industry, contractors and construction workers deal with the risk of their field and industry being inundated with competitors. This means that this can be hard on business but more importantly it can affect their chances of actually doing and getting jobs. Competitions are a risk in this industry because at times a contractor could be dealing with someone who is new to the industry and field therefore their rates may be less than there’s just so that they can remain competitive but also build on clientele. 

Then there are those who have been in the field for years but their work is done “under the table” this can impact someone who plays by the rules of the industry. Competition is a risk that contractors of all levels experience in the industry and one that can still prove challenging especially for those starting off as a budding entrepreneur and those in the other hand who have been in the industry for years and are looking to remain relevant.

As a contractor there are risks that truly are unavoidable and for some they can be life changing; however, the profession as a contractor is one that has many benefits and contributions. Without a contractor, the buildings we see would not be built, those installations of panels and units would not be up to par and standards of building regulations. A contractor faces risks daily in their profession but the rewards for their clients and themselves are great.

Interested in reading more about the risks on contractors or maybe more on the field of construction and building itself, check outwww.accessdoorsandpanels.com for helpful contractor and building posts!