The inaugural National Contractor Market Report examines general outlooks toward business growth & financing in the construction industry.
This report was founded upon a survey conducted in March 2021, which queried contractors on their business growth goals, sources of capital they’re using to stimulate growth, and the role of supplier terms play in their overall financing decisions.
Key Takeaways
Contractors remain eager to grow their business despite mounting economic challenges. A resounding entrepreneurial spirit is clear.
While 74% of contractors plan to grow their business in 2021, however, most believe they can depend on cash flow to finance that growth.
63% of contractors claim that they pay for materials before getting paid for their work, a clear challenge when attempting to grow.
Overall, contractors are undercapitalized, and working with lackluster credit & financing options.
