Uncertainty Brings More Opportunities for Private Contractors
While the industry continues to experience an increase in residential construction, other sectors are not doing as well. Private contractors in sectors that are declining should consider changing how they do business, what they produce or both.
According to a press release, Investment in Nonresidential Structures Up a Meager 3% in Final Quarter of 2020, issued by Associated Builders and Contractors on January 28, 2021, Anirban Basu, chief economist for ABC, said “The near-term outlook for nonresidential construction is not especially optimistic. Investment in structures was up just 3% on an annualized basis during 2020’s final quarter after declining by 33.6% and 17.4% in the year’s second and third quarters, respectively.”