Electric screwdrivers: the essential tool
With many tradespeople still able to get out there and work at the moment, it is essential to have the right kit. The handy screwdriver is a vital piece of any tool kit, used over and over likely on a daily basis. However, all that manual tightening of screws can be time-consuming and on occasion tough. That’s why electric screwdrivers are an essential upgrade for any toolkit.
What are electric screwdrivers?
Simply, electric screwdrivers are motorised screwdrivers that draw on electric energy supplies to screw in screws. They have become increasingly popular in recent years with assembly line workers and tradespeople alike.
What are the benefits of electric screwdrivers?
Most electric screwdriver users enjoy many benefits from them. From better accuracy, increases in worker productivity and reductions in overall costs. An electric screwdriver can also decrease the risk of injury. Taking out the need to apply overt pressure to the screwdriver reduces the risk of slipping and seriously harming yourself or others on site.
Another key benefit of the electric screwdriver is that they can be used for screwing in and taking out screws, much like a heavy drill. They are also much more versatile, allowing you to get into hard-to-reach screws at awkward angles.
What features do they have?
From LED-lights to help you find screws in low-light areas to torque adjustment features, electric screwdrivers come with many features to make your life easier. They also come in a range of power options and rotation speeds, so you can choose the perfect one depending on the type of work you do.
What types of electric screwdriver are there?
There are two main types of electric screwdriver, corded and cordless. The difference between them may seem obvious, but it is useful to know which types there are and how they can suit your job.
Corded screwdrivers plug directly into an electric socket, allowing them to benefit from continual power. These are great for screwing lots of screws in, especially if they’re located in easy to reach places and go straight in.
Cordless electric screwdrivers run on rechargeable batteries, meaning they will need charging. How frequently depends on how much you use them, but there are benefits to choosing a cordless electric screwdriver.
Why choose a cordless electric screwdriver?
Cordless electric screwdrivers allow for a greater degree of flexibility. With a cordless option, you can reach hard to get screws that aren’t located new power sockets, so you won’t need to run hazardous extension cables around your project.
They are also well suited to furniture projects, allowing you to get to tricky screws in awkward positions. Cordless electric screwdrivers are also a good choice for affixing plaster board and working on motor vehicles.
Continue ReadingMaking The Transition Into Construction Project Management
If you’ve worked in other industries as a project manager then you might assume that transitioning into construction project management is a simple step, after all project management skills are highly transferable. However, this is not always the case, whilst your core skills will stand you in good stead in any industry there will be new things to learn for a new industry.
Why might you consider a change of industry?
There are a number of reasons you may want a change; you may be looking for the challenge of something completely different or you may have lost your current job and rather than restrict your search for a new one be looking at all industries. This is actually a great way for a project manager to gain vital experiences that will help them progress their career and teach them new skills whilst still using the ones they already have.
Do some research
Before you make the move to construction project management do plenty of research and make sure it is right for you. If you decide it is this research can not only help you at interview but also once you start a new role. Ask around and gain as much knowledge as you can. You could also see if there is a professional organisation that you may be eligible to join. If they have a magazine, a website or even discussion boards then this will provide you with a great source of information. You might want to look for information from professional organisations such as the Association for Project Management or any industry-specific organisations as well.
Add to your learning
As a project manager you are continually learning, and it is important to back this on the job learning up with certification. Enrol in training courses for project managers and expand on the knowledge that you already have. This is a good way to show potential employers that you are serious about furthering your career and willing to learn new things in order to do so. If you can find courses linked to project management in your new industry, then that is even better.
Network
Make the effort to meet up with people who already work in your target industry. This will allow you to network and share information and tips. You may also be able to find a mentor this way who will hopefully want to share industry experience and knowledge with you. Having a mentor is in fact a good thing whether you are looking to move industry or not so if you do not already have one it is something to investigate.
Jargon
From one industry to the next you will notice differences in jargon and even terminology. Take some time to familiarise yourself with some of the new words and acronyms, remember some of the things you have been using for years may just have a completely different meaning in the construction world.
Continue ReadingYour 2021 Guide to Joint Ventures in Property Development
If you’re struggling to establish a career in property development due to a lack of finances or limited connections and experience, a joint venture could provide the support you need to get up and running in 2021.
What is a Joint Venture?
There are several types of joint venture (JV), but they all involve at least two parties combining their resources to fund a commercial enterprise and achieve a common set of goals. Each partner retains their distinct identity but benefits from an increase in efficiency and budget as well as a lower financial risk.
The Benefits of a Joint Venture in Property Development
- Access to Land. Finding and securing land for development can be extremely challenging and time-consuming. Sometimes, a JV is the only way to obtain development rights over a particular piece of land.
For example, if you lack the experience and resources of a larger development company, the landowner may insist that you partner with a more established developer before they will allow you to proceed with the project.
- A Low-Risk Means of Expansion. If you’re looking to expand your property development business into new markets and networks, partnering with someone who has expertise in this area will lower the risk.
Your partner will be able to advise you on the best investments and ensure that all relevant regulations are adhered to.
- Secure the Funding You Need. So, you’ve found the perfect development opportunity but lack the funds to turn the dream into reality? Entering into a JV is a great way to secure the property development finance you need, either directly by partnering with a company that can fund the project or indirectly by securing a finance agreement that you could not obtain on your own.
- Boost your Skills and Knowledge. By choosing a partner with a complementary yet different set of skills and experience to your own, you open up a fantastic opportunity to learn and grow the business. A JV may provide access to a whole new team of staff, each with something to offer in terms of technical expertise and specialised knowledge.
- Enhance Your Brand. Partnering with a more established developer can work wonders for your company brand. It can take years to establish a name that customers trust. Entering a JV with the right partner can give your credibility a serious boost and increase your market visibility significantly.
What are the Different Types of Joint Ventures?
- Contractual Development Agreements. This is one of the most common JV structure in the UK. Multiple parties sign a contractual agreement to complete the planned development.
This type of agreement is generally quick and easy to set up. Each party is taxed on their individual profits and retains its own debt liability — unless a clause is included to state otherwise. The partnership does not form a legal entity which can make raising funds difficult. The partnership may also result in a higher level of risk.
- Private Limited Company. This may also be called a “JV company” or a “special purpose vehicle (SPV)”. This is another very popular type of agreement in the UK. The creation of the partnership forms a private limited company and the partners become shareholders.
This is a very flexible option because the company can specify each partner’s share rights depending on their level of investment and the formation of a legal entity means that the partnership can own assets. If one partner chooses to leave the company, they can sell their shares and assets to the new partner. However, there is more administrative red tape involved due to reporting and compliance requirements and the need to ensure that partners are taxed correctly.
- Partnership or Limited Company. This type of partnership can be formed without a formal agreement. The parties involved unite to deliver projects that turn a profit.
The lack of formality makes this structure extremely flexible. The partners can draw up their own agreement and each individual is taxed, rather than the partnership as a whole. However, there is a high level of risk involved — a partner has unlimited liability. A limited partner assumes less risk but is not allowed to undertake a management role. Furthermore, securing finance can be difficult as the partnership is not a legal entity.
- Limited Liability Partnership (LLP). An LLP establishes a separate legal entity and each partner is taxed on the profits of the partnership. Liability is limited for each party involved.
The cons of this structure are the extra admin required for reporting and compliance measures as well as potential difficulties in securing property development finance.
Important Factors to Consider Before Entering a Joint Venture
Before deciding on the structure of your JV, or whether such an arrangement is the right solution for your property development business, ask yourself the following questions:
- What is the relationship between the proposed partners?
- What is the primary purpose of the planned partnership?
- What type of project or projects will the JV undertake?
- How will the partnership secure funding?
- What level of investment will each partner contribute?
- How long does each party foresee a need for the JV?
- Is there an exit strategy?
- How much flexibility does each partner require?
- What are the tax implications of your chosen type of JV?
- How will the planned project(s) be managed?
- What role will each partner play?
- How important is confidentiality to each party?
A Joint Venture can be a savvy move for property developers looking to branch out into new markets, enhance their brand, access new land, increase the budget and expand their skill set. But there is no one-size-fits-all approach, and each prospective partner should do their research into whether a JV will help them achieve their goals and if so, which structure is the most suitable for doing so.
As the economy continues to struggle amidst the impact of COVID-19, 2021 will be a challenging year for developers. A joint venture could be the perfect property development finance solution to help your business thrive and grow.
Continue ReadingModular Construction Market Global Expansion by Key Segments and Industry Dynamics From 2021 to 202
Modular construction is fast emerging as a sustainable affordable, economical, and environment-friendly construction method which is increasingly being adopted by builders and construction companies. Growth of the construction industry in the residential and commercial sector, primarily in the Asia Pacific, to meet the demand for housing from a rapidly growing population and has also led to a favorable market for modular construction. Also, new trends in the construction industry such as Lean Construction, Building Information Modelling (BIM), and Green Buildings have increased the role of prefabrication and modularization in construction.
According to ResearchCMFE, “The Modular Construction market is projected to grow at a CAGR of 6.1% to reach USD 136.2 billion by 2026 from 90 billion in 2019”.
The research report analyses the ecosystem of Modular Construction and categorizes the Modular Construction Market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.
By Type
- Permanent
- Relocatable
By Material
- Steel
- Precast Concrete
- Wood
- Plastic
By Application
- Housing
- Commercial
- Healthcare
- Education
The report also provides an in-depth analysis of market dynamics such as drivers, restraints opportunities, and challenges:
Drivers:
- The growing market for green buildings and energy-efficient structures
- The emergence of advanced and next-generation light weight and high strength materials which are ideal for modular construction such as structural steel, high strength steel, composites, etc.
- Faster project completion
- Construction Safety
- Cost-effective
Restraints:
- Transportation and logistics issues
- Adherence to building codes and practices.
Opportunities:
- The housing crisis in developed countries
Challenges:
- Lack of awareness
The Asia Pacific is expected to be the fastest-growing segment in the forecast period.
The Asia Pacific was the fastest-growing segment of the overall Modular Construction market. While Europe is expected to be the second-largest market. The North America region is also projected to witness a higher demand for modular construction in the coming years on account of the increasing adoption of modular construction in various end-user industries. The demand in the Asia Pacific region is primarily driven on account of easy raw material and manpower availability coupled with the demand from end-user industries such as residential housing, commercial construction, and the healthcare industry.
Due to the growing eCommerce sector, there is a need to construct more warehouses in certain Asia Pacific countries. The construction industry in the Asia Pacific region is also growing on account of rising urbanization, rising disposable income, and government initiatives, and residential and commercial construction projects. Key Modular Construction markets in Asia- Pacific include China, Japan, India, South Korea, Thailand, and Indonesia. Key modular construction markets in Europe include Finland, Germany, Sweden, and the U.K.
Company Profiles and Competitive Intelligence Covered in Modular Construction Market Report are: Laing O’rourke, Red Sea Housing, Atco, Bouygues Construction, Vinci, Skanska AB, Algeco Scotsman, Kef Katerra, Lendlease Corporation, Sekisui House Ltd., KLEUSBERG GmbH & Co KG, Dubox, Wernick Group, CIMC Modular Building Systems, Holdings Co., Ltd., RIKO Group, Algeco, Guerdon Modular Buildings, Hickory Group, Design Space Modular Buildings Inc., Kwikspace Modular Buildings, Elements Europe, Premier Modular
Get in Brief @ https://www.researchcmfe.com/report/22/modular-construction-market
About Research CMFE:
Research CMFE was formed with the aim of making market research a significant tool for managing breakthroughs in the industry (Chemicals and Materials, Food & Beverages, Energy & Power). As a leading market research provider, the firm empowers its global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision-making made us realize, that it’s not just sheer data-points, but the right analysis that creates a difference. While some clients were unhappy with the inconsistencies and inaccuracies of data, others expressed concerns over the experience in dealing with the research firm. Also, same-data-for-all-business roles were making research redundant. We identified these gaps and built Research CMFE to raise the standards of research support.
FOR ALL YOUR RESEARCH NEEDS, REACH OUT TO US AT:
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