How to Start a Construction Company In New York
There are a number of steps to take to start a construction business in the the state of New York. You must do your own thorough research, as laws change regularly. You may want to start here: How To Start A Construction Company. Here are some steps you may have to take (not necessarily in order) to start your own construction company, along with links to more information.
Getting started– The state of New York has a website about starting a business here: New York Business Express
-Select your business structure.
Sole-proprietor, LLC, Partnership, Corporation, etc.
-Register your business name.
You need to register your construction company name: Certificate of Assumed Name
If you need help choosing a construction business name: How To Choose A Construction Company Name
-Register your business.
You can find out more about registering your contracting business with the state of New York here: Start a Business in New York
-Open a Business Checking Account.
You will need to open a separate bank account for your construction business with your new business name.
-Find out about taxes and hire an accountant.
You may want to file your own taxes if you are a small company. As you grow, it will be easier to have an accountant do the work. More info about taxes here:
-Get Construction Software
Construction software will streamline your business before you even start, giving you visibility and control over all your leads, sales, jobs, and tasks from a single program to get your company on the fast track toward growth.
You’ll also be able to create estimates, place material orders, automate the boring (but necessary) stuff, empowering you and your team to finish jobs on time and on budget. Try JobNimbus for Free!
-Get Liability Insurance.
We work with ContractorsLiability.com because they’re the one-stop-shop for General Liability insurance and are able to get online quotes in all 50 states. Learn more >
More about liability insurance here: Contractor Liability Insurance
-Offer Payment Options to Customers
Offering payment options with your bids will help you work with clients that don’t have all the cash up front.
Hearth’s software allows you to pre-qualify your customers (without affecting their credit score) directly from a mobile app so that you can win more business and larger project sizes, even on deductibles.
With Hearth:
- Loan amounts can range from $1,000-$100,000, and customers can get funds into their account in 1-5 days.
- You can serve clients with credit scores as low as 500.
- You’ll never pay per-loan dealer fees.
- There are no minimum requirements to join!
Claim your $100 Roofers Helper discount and get started here.
-Register as a Contractor.
You will need to check with your county to see requirements for registration.
-Worker’s Compensation.
You will need Worker’s Compensation if you have any employees. Find out more>
-Get Health Insurance.
Since you will be self-employed, you will need your own health insurance. If you have employees, you will need a plan that will include their health needs also.
-City License.
You may be required to obtain a license to operate your construction company in a particular locale, whether you are a resident, or not.
-Permits.
Depending on the locale, you may need to apply for permits before commencing certain types of construction jobs.
-Building Code and Inspections.
You must be aware of building codes for your particular job, and may be subject to inspections.
-OSHA.
Depending on how many employees you have, you may need to follow OSHA regulations.
-Financing.
Depending on your startup budget, you may need to apply for financing to help pay for equipment.