Originally published in Construction Executive
By Shane Brown
As the coronavirus recession starts to bite, construction companies can go in one of two directions.
They can hunker down, focus on forgivable Payroll Protection Program loans and other government aid, and ramp up their bids in hopes of winning some business from increasingly competitive projects. This is a strategy utilized by more than a few.
Alternatively, though, they can treat this crisis as a strategic opportunity to diversify and invest in future growth.
Which approach turned out better in the last recession? The industry took a brutal hit in the wake of the 2008 financial crisis. But when you ask construction leaders about that period, they rarely cite regrets about not having curled into a tighter ball.
Shane Brown is Shane Brown is a partner at Plante Moran, leading the construction practice for the Rocky Mountain region.
Read the full article in Construction Executive.