2020 Q1 Industry Report: Resiliency Remains

Article, 1 Minute Read
Foundation Software Construction Industry Report
25 March 2020

2020 Q1 Industry Report: Resiliency Remains

If anything can be said about 2020 so far, it’s that the uncertainty from last year has not only remained, but doubled.

With the rapid progress of COVID-19 internationally and across the U.S., many of us are not only wondering about the health and safety of family, friends and colleagues, but about the future of current projects, the continuation of material supply, and the likelihood of the recession many economists have been predicting for years.

Understandably, tensions are high.

Still, it’s important to remember that the industry has been here before. The 2008 recession saw droves of workers leaving construction — moving into technology sectors and beyond — forcing the industry to take a step back and find new ways to adapt.

We’re doing the same now.

Despite daily changes and the potential for mandated federal closures, construction companies are working to shift their workflow and restructure where and when they need to.

We’ve always been a resilient industry and that won’t change.

AUTHOR INFO

Steve Antill is VP of business development at Foundation Software and Payroll4Construction.com, where he leads the charge for continual revenue growth and development of new entry points into the market to serve contractors.


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