The Cooling Before the Storm

General Contractors will be ground zero for the next recession. You can be prepared.

During the Great Recession of 2007-2009, small contractors (under ten employees) failed at a far higher rate than non-construction businesses. Big businesses like banks and car manufacturers got the most publicity. However, given the 200,000 business failures, the almost complete collapse of profitability and the immeasurable human cost — our industry was ground zero and will be again in the next recession. According to the Harvard University Joint Center for Housing Studies, slightly over 50% of residential builders failed during the great recession while profits for the survivors were practically non-existent.

Will we have another recession? Yes.

When will it start? No one knows. But the closer we get to the start the more reliable predictions become — kind of like predicting the weather.

Read the complete article by Aspire Institute Founder & Chairman, Ken Brookings, in Houston Builder Magazine: Click Here

Are you a remodeler or residential GC looking for ways to insulate your company from a down economy while improving your business practices and profitability? Check out this FREE report from the Aspire Institute, Beating the Boom-Bust Cycle for Contractors: Download Here

Learn more about recession-proofing your residential construction company at an Aspire Institute one-day business workshop: Click Here for Schedule

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