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Support Your New Scaffolding Business With These Stable Tips

Lots of entrepreneurs are moving into the construction industry and have found that, over the past couple of years, this has become on of the most profitable areas for various professional ventures. And the most profitable companies in this field of work are scaffolding ones. If you are completely new to this industry, you might be wondering exactly what a scaffolding company does exactly. Well, they rent out various pieces of scaffolding equipment and tools to builders. One of the benefits of starting your own scaffolding company is that it can be done on a very small scale, and can even be run from your own garage! In fact, most well-established firms started very small, and have now grown into extremely profitable companies. Ready to move into this industry? Here are our best tips for starting your own scaffolding business.

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Consider Your Business Structure

There are three structures you could use for your new scaffolding company. You could trade as a sole trader or become a limited company; these are the two most popular. Business owners often go for one of these two options and then become a corporation once their scaffolding company is making plenty of money. There are various benefits to both sole traders and limited companies. For instance, it is very easy setting up as a sole trader. However, a limited company is much better protected against lawsuits.

Get The Best Deals From Suppliers

You will need to find suppliers who can provide you with materials and equipment that you can use for your business. For example, you might need things such as wall protectors, vans, and scissor lifts. It is important that you speak to a few different possible suppliers before you decide which one to go with. This gives you the chance to shop around and find the best value for your money.

Check About Permits

You should check with your local government to see if there are any specific licenses that you need in order to trade as a scaffolding company. There are some licenses required by certain business in the construction sector, but not all of them apply to every single type of company in this sector. So you will need to find out exactly what you need to be able to trade legally.

Get Some Liability Insurance

It is extremely important to get some liability insurance for your business, as this will protect you should you ever cause injury or damage while you are using your scaffolding equipment. Generally speaking, your company will need enough insurance to ensure that no lawsuit will ever leave you bankrupt. Insurance may seem expensive at first but, trust me, it will work out a lot cheaper than having to pay all the legal fees that come with being taken to court!

You will find that working in scaffolding is a very profitable and rewarding sector in the construction industry. Hopefully, all of the above tips will help you build and support a very successful business indeed!

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