According to the Bureau of Labor Statistics, only 56% of the 69,296 private construction companies that started operations in 2001 made it to the third year! What’s more shocking is that only 26.6% were operational after ten years, and 17.2% were open for business twenty years later. That’s a whopping 82.8% failure rate! Let that sink in for a second. But it’s not all groom and doom in the business world. This article will discuss what all established construction businesses have in common. Keep reading to understand why such firms have stood the test of time. Let’s start! Lifts According to the Electronic Library of Construction Occupational Safety and Health,…
