I have been struggling to keep my business going and money coming in. Lately it has felt like the movie Groundhog Day with Bill Murray. I get up and start getting calls from creditors and I do my usual spiel that I am sorry but my customers have not paid me therefore I cannot pay them. Some are understanding and some are downright huffy and mean.
I can hardly wait for the weekend when the calls stop. I usually wake up every night in a sweat and panic and then am not able to go back to sleep. This has been my life for the last several months ‘Groundhog Day’ day after day.
I started my business in 2006, TG Electric LLC, and was very successful until about a year ago. It then hit me like a ton of bricks. I lost money on one job and then the money slowed down drastically. The real kicker is that most of my contracts were with county, state, & federal agencies. It seems like us small contractors are having a hard time because we cannot carry the cost of doing a job and waiting 3 months or more to get paid. The state of Hawaii has also outsourced the construction management of DOE jobs (schools) to a company that was politically connected to Linda Lingle the previous governor. They have added a huge layer of bureaucracy to our billing for jobs which slow down our pay. I have also had problems with some of the inspectors of this company where they did not credit me with my rightful progress percentage which really puts hurt on us small contractors.
I have been trying to get some solar (photovoltaic) jobs and am in the process of several good jobs. I have actually won the bids on four for the total of about one megawatt of solar. These are my jobs and could save my company as they usually put money up front as the job has to be paid for to be able to apply for federal and state rebates. They just have stalled as most of the customers are trying to secure financing. I am so stressed out and trying to push as hard as I can with these customers without sounding desperate. I am desperate and need these now. So again I feel like I am stuck in the movie Groundhog Day. I keep getting the answer about this one customer that he is waiting for his loan approval.
I am so on the verge of bankruptcy or being very successful and the stress is killing me. It is so crazy and I do not know how this will turn out. We have had help from friends and family but have run out of money just like so many out there. This is a tragedy that this is happening to Americans in every walk of life. Small businesses are failing and people cannot get jobs. I am sad for our country and our people. Maybe I am just sad.