Financial Resolutions for Construction Owners

Financial Resolutions for Construction Owners

Keep up with the latest from

Fill out the form Below

The new year is an important time when many business owners hit the refresh button and look for opportunities to change and improve their company. If you own a construction business, have you thought about what resolutions you will be making in the new year?

According to Research and Markets, the construction industry is expected to grow steadily over the next four quarters. When the pandemic hit, construction firms struggled to find skilled labor. However, the industry now has more workers than before the global pandemic outbreak, according to a report from the United States Bureau of Labor.

Given this information, it’s quite possible that your business just finished off a successful year in 2022. However, whether your business achieved success last year or took a step back, the new year is a great time to make resolutions for your company. Here are some resolutions to consider as we begin the new year:

1) Review/update your financial plan: It is essential to continually review your financial situation regardless of whether 2022 was a positive one or not for your business. Where do you see yourself and your business in five or ten years? Are you on the right path toward obtaining these goals? These past few years has allowed us all to re-evaluate our business’ needs versus our wants when it comes to our budget. Look at your spending over the course of 2022 and use it as a base to create a budget for the upcoming year.

Continually reviewing your financial situation and updating it where you see fit, is critical to actually achieving these goals.

It is also important to realize that there are financial professionals who can assist you through this process and can construct a financial plan that allows you to implement financial strategies today that will help you reach your goals in the future. Do not hesitate to set up quarterly meetings with these professionals!

2) ​​Care for your people: Your employees will be more than willing to speak up for what’s right and support the business’ decisions and initiatives when they know the company cares about them.

One way to show additional care is by reviewing your workplace benefits. Workplace benefits are constantly changing, and the pace of change is quickening. If you haven’t surveyed employees in the last two years, consider doing so now. Find out what they need and where you can help.

3) Remind yourself that culture is caught, not taught: Business leaders need to communicate their purpose and goals clearly, and back it all up with action. Words can rally people around a cause. But it is essential that you practice what you preach to your employees.

4) Collaborate more and build trust: Work even closer with your stakeholders (for example, customers and suppliers) this year. More time spent with your stakeholders will reveal more opportunities for your business to grow, make a further impact and create more wealth.

5) Commit to create values for generations in the long term: No matter the business, no matter the industry. Remember, that your business should be part of the solution – and not the problem – for society.

Kenny Janes is a Financial Advisor at UBS Wealth Management USA. He works in the firm’s Richmond office. If you would like to learn more about tips for your business in 2023, he can be reached at 

This article has been written and provided by UBS Financial Services Inc. for use by its Financial Advisors.

UBS Financial Services Inc. and its affiliates do not provide legal or tax advice. Clients should consult with their legal and tax advisors regarding their personal circumstances and before they invest or implement. This report is provided for informational and educational purposes only. Providing you with this information is not to be considered a solicitation on our part with respect to the purchase or sale of any securities, investments, strategies or products that may be mentioned, including estate planning strategies. In addition, the information is current as of the date indicated and is subject to change without notice. 

As a firm providing wealth management services to clients, UBS Financial Services Inc. offers investment advisory services in its capacity as an SEC-registered investment adviser and brokerage services in its capacity as an SEC-registered broker-dealer. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that you understand the ways in which we conduct business, and that you carefully read the agreements and disclosures that we provide to you about the products or services we offer. For more information, please review client relationship summary provided at, or ask your UBS Financial Advisor for a copy.

© UBS 2022. All rights reserved. The key symbol and UBS are among the registered and unregistered trademarks of UBS. UBS Financial Services a subsidiary of UBS AG. Member FINRA/SIPC.

Expiration: 1/31/24

Approval date: 1/20/2023

Review Code: IS2300398

*Featured Image Courtesy: UBS

CCR NYC Facilities & Construction was held September 28th, 2023 Noon to 4 PM at Penthouse 45.
The 14th Annual 2024 Hybrid Summit will be held January 2024, Date & Location TBD.

Read more BELOW

January 26th, 2023
The 13th Annual Hybrid Summit was held on January 26th, 2023 Noon to 4 PM EST.

Virtual Women in Construction: Building Connections was held on October 20th, 2023 via Zoom.

2023 Virtual Men’s Round Tables

2023 Men’s Round Table #1 will be held on November 7th, 2023

2023 Virtual Women’s Round Tables

2023 Women’s Round Table #1 was held on October 20th, 2023


Sprouts to more than double Philadelphia footprint

Sprouts Farmers Markets has plans to more than double its footprint in the Philadelphia area with six new stores in the pipeline, which will bring the grocer’s total store count in the metropolitan region to 11. The grocer first entered the Philadelphia market five years

See Website for Details

This content (including text, artwork, graphics, photography, and video) was provided by the third party(ies) as referenced above. Any rights or other content questions or inquiries should be directed such third-party provider(s).

Receive the CCR 2024 Idustry Report

Get ahead of your Competitors with CCR's FREE Industry Insider's Report 2024!

Always stay two steps ahead of your Competitors. Stay informed with the latest in the Industry. 

This site uses cookies to ensure that you get the best user experience. By choosing “Accept” you acknowledge this and that operates under the Fair Use Act. Find out more on the Privacy Policy & Terms of Use Page