December 9th, 2020
Many construction companies operate on razor thin margins and most are definitely not strangers to cash flow issues. Compound those with a crisis and things can get rocky fast. However, dealing with financial hardships and challenging stretches in business life have given contractors and other construction business owners the skills and steadfastness to withstand difficult times.
October 28th, 2020
It is no news that the global economy has been a bit shaky for years now, then the pandemic struck and everything went spiraling downward. Statistics show that unemployment was at 14.7% in April 2020, the highest rate in America since the Great Depression, and gross domestic product fell by 4.8%.
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July 15th, 2020
The construction industry opened the year 2020 cautious but optimistic about the future, and then COVID-19 swept the nation and the rest of the world. The crisis has prompted governments to implement strict lockdown protocols to contain the spread of the novel coronavirus. Four months after the first recorded case in the country, several places are starting to relax these safety measures in order for the economy to move forward. At this moment, construction business owners need to think about a business reopening strategy and how they can adapt to a post-COVID-19 construction environment.
April 30th, 2020
At the start of 2020, the construction industry’s outlook had never been brighter. The early momentum of the United States economy boosted the confidence of construction industry leaders. According to the Associated Builders and Contractors’ Construction Confidence Index released mid-March, 72% of contractors expected to expand their staffing levels over the next six months, while more than 68% expected their sales levels to increase. Unfortunately, these expectations have largely plummeted because of the coronavirus outbreak.
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