Expand your comfort zone – Use a joint venture to mitigate the risks
Abstract: One effective strategy for contractors to gain a competitive edge is to branch out into new types of work, new geographical areas and larger, more complex projects. However, there are some dangers. One way to mitigate the risks is to enter into a joint venture with another construction business. This article looks at some of the benefits of joint ventures and the different ways to structure them, along with specific steps that a contractor should take in setting one up.