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2024 National Subcontractor Market Report

Subcontractors: It pays to get paid for the cost of working capital

The fourth annual National Subcontractor Market Report is here and the evidence shows that subcontractors who account for the cost of working capital in their bids:

  • Average 11% larger profit margins
  • Nearly a third reported a 20%+ YoY increase in revenue
  • Have better working relationships with their GCs
  • Have more optimism for growth in 2024

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We’ve compared thousands of stats over the last 4 years to bring you critical findings for subcontracting businesses

60 %
of respondents report being slow paid by GCs
There’s more awareness than ever across the industry on the massive impact of slow pay, but most subs are still waiting 57 days from the time they submit to get paid. Meanwhile, nearly 8 in 10 subcontractors come out of pocket for material costs while they wait.
0 %
say the challenge to maintain
cash flow is real
Most subcontractors leverage multiple sources of working capital to get the job done. But all that capital comes at a cost. And for half of businesses that cost will come out of the bottom line.

Here's the good news

1 in 2 subcontractors successfully account for the cost of working capital in their bids. And it pays off with larger profit margins, growing revenues and bigger plans for 2024.

Accounting for the cost of working capital is a strategic business practice that addresses working capital as a true cost center. By incorporating this cost into bids and invoices to GCs and property owners, subcontractors are treating working capital as a crucial component of long-term business health.

Are you interested in using this strategy to grow your profit margin?

Billd specializes in getting subcontractors the working capital they need to grow AND has successfully helped many of them account for the cost of that capital.

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