Four ways you can use a recession to build resilience
Amid COVID-19 uncertainty, many construction owners are inclined to take government aid and wait for the storm to pass. Shane Brown offers this alternative approach to help construction businesses survive the downturn and emerge stronger via Construction Business Owner.
They can hunker down, focus on forgivable Payroll Protection Program loans and other government aid, and ramp up their bids in hopes of winning some business from increasingly competitive projects. This is a strategy utilized by more than a few.
Alternatively, though, they can treat this crisis as a strategic opportunity to diversify and invest in future growth.