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The newsroom on Tuesday night headed over to the Gotham Tavern for one of our paper’s DMWESB networking events to kick back with a cold beer and hear the latest news from our industry folks.

Though the beer was cold and the mood lighthearted, many conversations I had with contractors led back to a recurring and negative trend in the industry: underbidding.

Underbidding is when a contractor bids far below a project’s value in order to get the job, even if it means making a negative profit. Owners award contracts to these low bidders because they are desperate for cost savings. But other contractors who bid normally on these projects are left out in the cold. This is especially hard on small contractors, most of whom can’t afford to underbid a project.

Still, it was great to see these small business owners forging new connections with one another (with the help of a cocktail). The next DMWESB networking event will be held on June 24th at the Gotham Tavern.