When the Bureau of Labor and Statistics released its forecast data for 2012 and 2013, it showed growth in both years. With a baseline forecast predicting growth of at least 1.6% in 2012 and 2.4% in 2013, the construction industry seems to be on the mend, barring a recession.
Positioning a company for growth may be something that is finally on the minds of contractors across the country.
For those that are looking to make sure that they receive payment for new or existing work, LienItNow can provide the notices to owner that are so necessary to preserve lien rights. For information on what needs to be done in your State, visit ourFAQ section.
Construction Industry’s Size Still Hefty
An interesting statistics for you to chew on: there are over 884,000 construction companies in the United States.
Of those companies, there are obviously many segments, including plumbers, electricians, drywall contractors, suppliers, heavy and civil engineering contractors, specialty trade contractors, and many, many more.
If you know how many companies exist in a certain segment, you can start to narrow in on the opportunities to find a potential job, or a potential customer.
Here are some quick numbers on the size of certain segments of the construction industry:
*269,700 Building Construction Contractors
*57,600 Heavy and Civil Engineering Construction or Highway Contractors
*$557,000 Specialty Trade Contractors
*68% of all Construction Industry Companies employ fewer than 5 workers.