Overview

IMI's Aspiring Contractor program is a 5-day virtual program running Monday, October 12, through Friday, October 16, 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 interaction and engagement. To earn a certificate, participants must attend all five days of programming and remain on camera for the full duration of each session.

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.

• Learn how to develop a business plan.
• Identify financing requirements/responsibilities. 
• Understand the options available for start-up companies. 
• 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.

• Understand Collective Bargaining Agreements (CBA).
• Discuss union responsibilities.
• 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.

• 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.
  

• 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.
• Explore project planning and execution fundamentals that support effective financial management, communication, and risk mitigation.
  
• Understand the role of specifications in project management and how they contribute to successful project outcomes.

• Understand the support available for start-up companies. 
• Compare a business line of credit vs. a business loan.
• See different payroll service options. 
• Examine the contract review process and its role in managing risk.
• Explore small businesses government project opportunities.
• Gain clarity on the bidding process for government projects and key compliance requirements.