If you’ve always wanted to start your own company or recently took the plunge, our Aspiring Contractor Development Program gives you the tools to succeed as a union contractor.
This 5-day virtual program covers all the basics for getting started, from creating a business plan, to financing options, registering your company, and beyond.
Learn what it takes to be a successful union contractor from experienced business owners, industry professionals, and BAC/IMI experts. See the full course details below.
This program is best suited for BAC craftworkers interested in starting their own business or newly established BAC signatory contracting companies. Certificates will be awarded to participants who complete the program in full.
Speakers
Tom Elliott
Director Of Industry Development & Technical Services IMI
Michael Di Virgilio
Director of Collective Bargaining/Revenue Accounting BAC
FRED KINATEDER
President Kinateder Consulting
DON ZAVESKY
Procurement Specialist Ohio APEX Accelerator
David Hincapie
Lender Relations Specialist, Veteran Business Development Officer U.S. Small Business Administration Washington Metropolitan Area District Office
IMI's Aspiring Contractor program is a 5-day virtual program running Monday, January 29 through Friday, February 2, from 7-9 p.m. ET each day.
The coursework is intended for BAC craftworkers interested in starting their own business and newly established signatory contractors. Class size will be limited to allow for optimal interactivity. In order to earn a certificate, participants must attend all 5 days of programming.
Course Description
Join us and learn how to develop a business plan, establish a company, and structure a team. Get important information on funding, bonds, insurance, payroll, and more. You’ll also gain a basic understanding of estimating, cash flow, pay applications, and construction documents. Finally, we’ll demystify your responsibilities as a union contractor and show you how BAC can help with workforce development, work opportunities, and more.
Our experts will lead a Q&A session at the end of each day to answer any questions you might have about starting a business.
7-9 p.m. ET
Session 1 - January 29: Establishing Your Company's Framework
Learn how to develop a business plan.
Identify financing requirements/responsibilities.
Understand how to create a culture of civility and create onboarding methods for employees.
Describe the fundamental elements of building strong business relationships.
Evaluate different platforms and resources for registering a company and efficiently navigating the bid process.
Explain the benefits and drawbacks of pension and healthcare plans.
Define the terms benefit responsibilities and bonding requirements in the context of business operations.
Clarify the steps involved in working in another jurisdiction, including the legal requirements and procedures that must be followed to obtain the necessary permits and licenses.
7-9 p.m. ET
Session 3 - January 31: Estimating 101
Discuss the cash flow estimator tool and its effectiveness in analyzing and managing cash flows for business operations.
Explain the legal requirements of invoicing and the process of documenting services and rendering payment owed.
Describe Property, Plant, and Equipment (PP&E) Accounting.
Give examples of estimating costs for a construction project by factoring in overhead and profit margin.
7-9 p.m. ET
Session 4 - February 1: BAC and IMI Resources
Understand the support BAC can offer in furnishing skilled craftworkers.
Discuss the concept of target/market recovery funds and their potential to optimize risk and returns in investment portfolios.
Identify how BAC assists with finding projects.
Describe the resources offered by IMI, including project support and continuing education opportunities.
7-9 p.m. ET
Session 5 - February 2: Strategies To Work With Construction Lawyers and Accountants
Understand the significance of involving an attorney in the process of starting a company.
Compare a business line of credit vs. a business loan.
See different payroll service options.
Discuss the value of the contract review process.
Understand the significance of workplace benefits, the different types of benefits available, and the legal and financial implications of offering benefits.
