The COVID-19 had everyone in a tight chokehold. Countless businesses, especially small businesses, were shut down due to the pandemic’s adverse economic impact. And unfortunately, the construction industry was one the most affected industries.
A series of lockdowns and quarantines put the economy on a dangerous pause. And given how sensitive the construction industry is to economic changes, it is not surprising why construction companies downsized—and even went out of business. Yet despite this grim situation, this study said that the construction industry also holds the greatest potential to stimulate economic recovery. And with government programs that aim to revitalize the economy in full swing, such as the Bipartisan Infrastructure Law, things are finally looking up for the general contracting business owners.