The contracting industry has been in the doldrums for too long! The unemployment in this industry has been staggering and the national economy has suffered because of it. Yeah; I know that the hard times in the construction industry is only a symptom and not the cause of the Great Recession but if you take a hard look at the industry you will see that contracting affects a large part of the economy.
I say that this is a good time to get into the construction business because there are many things that are happening in our world today that is going to have a major impact upon the construction industry. Some of these things are:
1. The Great Recession.
This recession is a good thing for the contracting industry! It has eliminated many of the weaker unprofessional companies that tend to submit low ball bids and then try to cut corners. Weaker unprofessional companies tend to give a bad reputation to the construction industry. Unfortunately, the professional members of the industry suffer because of shoddy work practices of a few.
The recession has caused the competition to really get tough and lean. It has caused everybody to really think about how to survive and what needs to be done to not only survive but to achieve extra ordinary success.
The industry has always had a segment that works out of the back of their truck and low balls bids to get jobs and then end up cutting corners and eventually going broke. They usually take others with them when they go down. The recession has eliminated a lot of these companies. Some will survive but their growth will be limited.
2. Many of the baby boomers are going to retire.
The future is going to see many of the baby boomer generation either retiring or just closing their contracting businesses. This is a natural occurrence for the aging population. There comes a time when enough is enough and people decide they want to do something else with the rest of their lives.
3. More people going to college and not learning a trade.
The President has advised the younger generation to seek higher education and wants everybody to go to college. This has become the mantra for the nation; everybody has accepted the theory that you must go to college in order to succeed.
This belief is offering opportunities to the people that are willing to get their hands dirty and learn a trade. The civilized world is going to need good contractors and subcontractors.
There are changes that are taking place in the construction industry and the Recession appears to be one of the catalysts that are making the changes necessary. The following article pretty much summarizes what I am talking about so take a moment and read.
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