3 Things Every Arkansas Home Service Pro Should Know This Summer

As summer approaches, it's crucial for home service professionals in Arkansas to stay informed about key regulations and market trends. Here are three important points to keep in mind:

1. Arkansas’s $2,000 Contractor Licensing Threshold

In Arkansas, projects that cost less than $2,000 do not require a contractor's license. However, if your project exceeds this amount, you must be licensed to avoid potential legal issues or fines. The Arkansas Contractors Licensing Board actively enforces this rule, so ensure you have the proper licensing before taking on larger jobs.

2. Material Price Trends

Currently, lumber and siding prices are stable, which is good news for many contractors. However, electricians and HVAC professionals should be aware that prices for copper wire and electrical conduit have increased by 5–7%. This rise in material costs can affect your job quotes, so be sure to factor these changes into your pricing to maintain profitability.

3. Insurance Audits and Worker Classification

More professionals are experiencing surprise audits, particularly if they employ 1099 contractors or seasonal labor. Misclassifying workers can lead to significant risks, including fines and increased insurance costs. It's essential to ensure that your workers' compensation coverage is accurate and that you are classifying your workers correctly to avoid complications.

Stay tuned for more Arkansas-specific updates coming soon! Bookmark our blog or sign up for helpful updates to keep your business informed and compliant.