F E AT U R E The Keys to Survival for Small Companies... From Those Who Are Doing It by Jack Rubinger, construction industry writer
U.S. workers are steadily gaining confidence, according to LinkedIn’s Workforce Confidence Index from November 2. The index — which measures how Americans are feeling about their job security, finances and careers — is the highest it’s been since April: +33 on a scale from -100 to +100. The upturn can be attributed to rising optimism in most industries, with the strongest gains in health care, public administration, media, consumer goods and entertainment. Only three industries — construction, energy and mining, and recreation and travel — significantly lost confidence in
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the past month. Why the dip from the construction industry? And do small constructionrelated companies have it better — or worse? Has the pandemic or our shaky economy have any impact on small construction businesses?
Customer Service Focus Jason Simon, President at Denver Companies, LLC put it very succinctly, “Honestly, it’s all about hard work and great service. Jobsite success is what we do.That's what we say, breathe, and deliver. We help to make our customers
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more successful and they reward us with more business.” There were about 11.2 million people working in the construction industry in 2018, according to the Bureau of Labor Statistics. As of 2017, there were 454,367 small and medium sized specialty trade contractor businesses. On the flip side, The five-year survival rate for construction businesses is 36.4%
Watching Your Cash Flow Unfortunately, 82% of businesses fail because of inconsistent or insufficient
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