Although private construction investments declined 20.6% between September 2008 and September 2009 and other statistics confirm the trouble the construction industry has been facing, there are bright spots, according to the newest Census Bureau figures. The manufacturing and power construction sectors saw increased investments and publicly-funded investments in construction did increase. Click here to see more construction industry spending statistics.
Regardless of the challenges contractors are facing, more emphasis should be placed on managing overhead. You also have to be smart, you can’t tear the company completely down at the risk of losing the ability to secure and perform work in the future. Looking for ways to better manage overhead and improve the financial position of your construction business? Click here for an article sharing Lessons Learned from the Construction Industry or contact our Real Estate and Construction Group at 440-449.6800.