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Two-Step Prep for 2021

Published on: January 5, 2021

This New Year, every business should resolve to hit the ground running while being prepared to adapt. The past nine months have provided a unique opportunity to evaluate existing practices and new procedures. The resilience of NYCA members again showed New York an example of excellence in open-shop construction. We will continue to set the standard for safety, adaptability, and quality in the new year. To that end, we’ve compiled a shortlist of preemptive steps members should take in order to create strong yet flexible plans for 2021.

Assess Your Cash Flow Plan

2020 caught the business world off guard. Even the best plans developed in January didn’t account for the first pandemic in over a century. The lesson for 2021 is simple: Do not plan for business as usual. Whether job-specific or company-wide, proper cash flow planning is essential for keeping business running smoothly – especially in the wake of the COVID-19 pandemic.

Fortunately, NYCA provides members with a trusted resource for such planning. Our very own special advisor/consultant, Grassi Advisors & Accountants offers educational talks on cash flow planning and other services that allow contractors and subcontractors to continue operating amidst the “new normal.”

Grassi’s professionals can also work alongside your management team to develop cash flow plans to balance 2020 and begin 2021 with confidence.
https://www.grassicpas.com/cash-flow-forecasting-a-powerful-tool-in-your-covid-19-recovery

Anticipate Necessary Training

The new year will bring with it new safety training requirements and deadlines. Before DOB deadlines approach, NYCA encourages members to familiarize themselves with the Department’s list of approved training providers and the courses they offer.
https://www1.nyc.gov/site/buildings/safety/dob-approved-course-provider-list.page

NYCA is more than a typical trade association. It is an alliance founded on an unwavering belief that, together, we can set for the open-shop construction industry the same high standards for safety and quality that our members adopted long ago. Planning now will allow your firm to continue working toward our shared goal from the first day your team returns to the office in January!