Why Are Commercial Construction Contractors Optimistic Despite the Many Reasons Not to Be?
If a commercial construction contractor wanted to find reasons not to be optimistic about the future of their industry, they would find plenty of reasons. Material shortages are getting worse, worker shortages are getting worse, and prices are going up. Yet, many in this position are actually optimistic about the future.
Why? Keep reading to find out, and then contact ECL Software at 800-625-5972 to learn how ECL Software can help you improve construction management and fund control software.
The Stats Are Alarming
There is no way around it. According to a recent survey, 88% of construction contractors report that they are having a hard time finding skilled workers. More than one-third of that 88% have turned down new jobs due to the lack of skilled workers. 84% report at least one material shortage in the last quarter, and 46% say they do not have the availability of building products they need. These are alarming stats indeed.
Contractors See the Sun on the Horizon
While the negative aspects are there, nearly 90% of contractors also report either a moderate or high level of confidence in new business opportunities in the next year, and more than half say they will hire more employees in the next two quarters. 39% of contractors expect to see their revenue rise in the next year, and 44% of contractors are so confident that they plan to invest in new tools in the next six months.
Technology is Largely Seen as the Answer
There are some issues that have no quick solution, such as concerns about tariffs and trade agreements, but construction contractors say that there are many issues that can be solved or improved with the investment into improved technology. In fact, that is why ECL Software is in business – to bring software answers to real-life problems.
Vaccines Are Increasing Hopes
Many of the companies surveyed say that increasing numbers of vaccinated people give them hope that there will be a larger pool of available workers. Many workers felt uncomfortable working during the worst of the pandemic, even in outdoor construction areas. Now that more and more people are vaccinated, they are more likely to feel comfortable in group settings – which will hopefully increase the number of available workers.
Let Us Show You How We Can Help You with Your Construction Future
If you are interested in how ECL Software can help you with the future of construction, we invite you to contact us at 800-625-5972. We can provide a free demo so that you know exactly how the process works. Call us now and let us show you how we can improve your workflow and save you money.