Will there be an economic downturn in the commercial construction biz? Here’s a link to a good article on the trends in the commercial construction business. Like a lot of prognosticators and writers, this article believes the industry is in for a downturn this year (2023.)
Economic headwinds and banking/credit problems is the leading indicator this author credits for the headwinds.
I tend to agree with him that the road will be rocky the rest of this year and next.
What should you do as a GC or sub-vendor bidding on projects? Take a look at my Principle #4 (Adapt or Fail) to start your planning today.
Here is the link to the Q& A article in ConstructionDive online….
So, keep your head up and look forward. Be sure to look for the opportunities as outlined in my Principle #4. It will be critical for your business in 2023, 2024 and beyond.