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Four ways you can use a recession to build resilience

June 18, 2020 Article 4 min read
Authors:
Shane Brown

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.

Construction foreman using a laptop computer at a desk.As the COVID-19 recession starts to bite, construction companies can go in one of two directions.

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.

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