Industry Analysis & Industry Trends
The Road and Highway Construction industry was caught in heavy traffic during the five years to 2014. The recession limited road and highway spending by local and state governments, which are the largest sources of industry-specific project funding. Nevertheless, federal government stimulus spending and other forms of support bridged some of the funding gap left over by regional deficiencies. In the coming years, the need to rebuild, expand and repair existing road infrastructure, coupled with rising congestion caused by urban sprawl, will push authorities to invest in industry projects... purchase to read more
Industry Report - Starting a New Business Chapter
There are few barriers to entry for new companies at the bottom end of the road construction market (i.e. small-scale companies). 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 knowhow 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