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Next Level Bonding & Financial Management Services: Bonding & Capacity-Buil...

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BOC/MBDA

48 Wall Street

5th Floor

New York, NY 10005

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NYC Dept of Small Business Services presents:

Bonding & Capacity Building Conference Series (3 Separate Sessions)

Still missing out on NYC contracts and subcontracts because of limited or no bonding capacity and/or lack of contract opportunities? Join our bonding and contractor capacity building specialists for a 3-Part Capacity Building Conference Series. Learn from the experts how to implement best practices so you can better position yourself to access surety bonds, build relationships and start landing larger contracts to expand your business to the next level. In this series you will learn about construction financial management best practices; capacity building strategies; construction risk management tactics; and how to best present your business to owners, primes, sureties and lenders. Upon completion of the conference series, participants will have an opportunity to “pitch” their business to several NYC prime contractors.

12/4/2018 – Conference # 1 – Financial Management Capacity Building

Construction is a risky business that comes with a high rate of failure. The biggest surety exposure is the payment risk of subcontractors and suppliers not being paid for their products and services. Preserving and managing your cash flow on projects is critical to mitigating your risk on construction projects and growing your business.

This conference will help contractors establish sound internal accounting and financial management systems to better account for financial resources and manage costs, profits and cash flows management process. Topics covered:

  • Advanced Construction Accounting & Financial Management Best Practices
  • WIP Schedules, Prevailing Wage & Certified Payroll
  • Project Cash Flow Management & Payment Applications

2/13/2019 – Conference #2 – Bonding Capacity & Risk Management Tools

Successful contractors spend time and effort establishing their first surety company relationship. To prepare for that first contractor-surety meeting, the contractor needs to understand what the underwriter is looking for and be ready to answer questions about the organization’s culture, operations and future plans.

Join our panel of surety experts and find out how to best present your business to a surety company; how to manage your risk on bonded projects; and find out more about surety bond resources to expand your bonding capacity and start landing more lucrative contracts. Topics will covered:

  • Preparing for the Surety Company Meeting
  • Preparing a Bid Bond Request
  • Strategies for Increasing Bonding Capacity
  • Bond Claims & Risk Management Techniques to Minimize Exposure on Bonded Projects

4/16/2019 – Conference #3 – Pitching Your Business to Primes, Sureties & Banks

Whether it’s a networking event or an introduction, successful MWBE firms have a one-minute pitch ready, along with a capabilities statement to leave behind. How can you make a good impression and convey your company’s message so it will lead to a follow-up meeting or better yet, a contract? Your pitch should always tell a good story.

This conference will help MWBE participants be better prepared to network and pitch their business to primes, sureties and banks. Topics covered:

  • Bonding & it’s Role in the MWBE Subcontractor Prequalification Process
  • Importance of Networking, Marketing & Strategic Alliances
  • Developing a Powerful Capabilities Statement & Elevator Pitch
  • Rehearse Your “Pitch”

Upon completion, participating MWBE firms will be invited to a “Pitch the Prime” event.

Who Should Attend:

  • NYC M/WBE certified or eligible to apply to be certified
  • Already performing public or commercial construction projects
  • Must need bonding & be committed to complete bond application
  • At least 3+ years in operation

Please visit SBS' Next Level Services webpage here to see all other events, and to schedule a one-on-one session for assitance/counseling on any business management, project management or bonding topic you need help with.

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Location

BOC/MBDA

48 Wall Street

5th Floor

New York, NY 10005

View Map

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