In construction, a strong foundation is everything. The same is true for your business.

Success isn’t built on financial capital alone, it requires four types of capital working together: financial, political, social, and human. When small contractors understand and invest in each, they create the stability needed to grow, scale, and thrive, especially when it comes to Cleveland’s evolving construction market. 

1. Financial Capital

This is the most familiar form of capital! Often seen as money in the bank, access to loans, bonding capacity, and working capital to bid and execute contracts. 

• Why it matters: Without adequate financial capital, opportunities slip away because you can’t meet bonding requirements, cover payroll, or finance upfront costs. 

• How to build it: Develop a strong relationship with local banks and credit unions. As a business owner, you should be able to walk into your bank and ask for the Banking Business Advisor by name. Explore resources offered a various organizations, businesses, and banking institutions, such as: MasterCard, US Bank, SBA, and The City of Cleveland to name a few.  

2. Political Capital

Political capital is about relationships and influence. It means understanding how decisions are made around contracts, certifications, and economic development. 

• Why it matters: In Cleveland, many opportunities flow through public contracts and city-led initiatives. Having connections within the Office of Equal Opportunity (OEO), City Council, and county agencies can make the difference in knowing when opportunities arise and being ready to pursue them. 

• How to build it: Attend city council meetings, stay informed about OEO certification updates, and participate in advocacy events. Build relationships with decision-makers and make sure your business is visible in the spaces where policy and contracting intersect. 

3. Social Capital

Social capital is the network of people and organizations that support and recommend your business. It’s trust, credibility, and word-of-mouth. 

• Why it matters: A large portion of construction work in Cleveland still comes through referrals, partnerships, and teaming agreements. The strength of your network can open doors to contracts your company couldn’t win alone. 

• How to build it: Show up where your peers are. Plug into groups like COSE, NAMC Northern Ohio, and GCP’s CUBE (Construction Utilities Buildings and Equity) Initiative Built Strong program. Participate in industry events like the CUBE Symposium, our upcoming Blueprint for Business Growth workshop, and other related GCP and COSE events. Don’t just attend, engage, share your expertise, and follow up with people you meet. 

4. Human Capital

Human capital is your team; the skills, experience, and capacity of the people you bring on board. 

• Why it matters: You can’t grow beyond the limits of your people. Having skilled, reliable workers positions your company to deliver quality work and scale when bigger opportunities come. 

• How to build it: Invest in training and certifications for yourself and your team. Programs like Cleveland Builds, Greater Cleveland Works, TechCred, Verizon Digital Ready program, and various union apprenticeship pathways can connect you to a diverse pipeline of talent. Even if you’re not ready to hire full-time, consider interns or seasonal staff as a way to build capacity. 

A Balanced Foundation 

Too often, small businesses focus on just one or two of these capitals. Maybe you’ve got the financial side covered but haven’t built the political or social relationships that put you in the room for bigger bids. Or perhaps you’ve got the network but lack the financial readiness to back up your opportunities. 

The truth is, you need all four. Think of them as the pillars of your business foundation. Strength in each makes your company more resilient, more competitive, and more prepared for what’s next. 

As you look ahead, ask yourself: Which of these four capitals do I need to strengthen this season? Then take action! Reach out to a banker, attend a networking event, sign up for training, or connect with a community leader. Just start!  

In construction, success is about more than bricks and mortar. It’s about building capital: financial, political, social, and human that keeps your business standing strong.