Industry Analysis & Industry Trends
The Road and Highway Construction industry continues to face a host of issues including budgetary constraints and uncertainty surrounding government funding. Local and state governments, which are the largest sources of industry-specific project funding, have maintained prudent budgets since the recession, while federal programs like the Highway Trust Fund remain precarious. However, a recent transportation bill of $305.0 billion passed by Congress in December 2015 will prove a boon to industry demand. Furthermore, the private sector will be encouraged to help fill the investment gap through public-private partnerships... purchase to read more
Industry Report - Starting a New Business Chapter
There are few barriers to entry for new companies in this industry. Contractors that undertake small-scale jobs on local projects must obtain local state licensing and registration; however, the expenditure requirements to start a business in this industry are quite low. New entrants have no significant technological disadvantage. Also, capital costs can be reduced by leasing or subcontracting equipment. Nonetheless, all new entrants have to be able to develop the expertise and know-how that is required to complete projects.
Smaller-scale contractors typically rely on maintaining a sound reputation and a network of contacts within the construction sector to obtain contracts... purchase to read more