2020 Marcum Northeast Ohio Construction Survey
2020 MARCUM NORTHEAST OHIO CONSTRUCTION SURVEY
GROWTH OPPORTUNITIES After a slight drop in optimism regarding growth opportunities within and outside of Northeast Ohio in 2019, 53% of respondents predicted more opportunities within the region in 2020, an 8% increase over the previous year. Interestingly, the same percentage of national respondents predicted growth opportunities within their regions. Our pre- and post-COVID-19 comparison tells the full story. Without the pandemic, optimism for opportunities within the region would have tracked closer to 60%. Optimism among post-COVID-19 respondents drops to just 36%. We see greater consistency in respondents’ optimism for growth outside the NE Ohio region with no change year over year or pre- and post-COVID-19, indicating that optimism prevails. Respondents were invited to provide comments about their growth opportunities. Several are focusing on improving their profit margins.
We believe that as long as firms work with their internal teams and professional advisors to address labor safety issues and material sourcing, and have a pandemic plan in place, they will come out of this in good shape.
- JOSEPH NATARELLI MARCUM LLP
In the next 3 years outside your region, do you see your business having:
OHIO
NATIONAL
More opportunities Same amount of opportunities
More opportunities Same amount of opportunities
50%
46%
40%
42%
14%
8%
Fewer opportunities
Fewer opportunities
In the next 3 years in your region, do you see your business having:
NATIONAL
OHIO
53%
More opportunities Same amount of opportunities
More opportunities Same amount of opportunites
53%
32%
38%
15%
9%
Fewer opportunities
Fewer opportunities
Growth opportunities exist but need to be cultivated over time and carefully. We are pursuing slow growth both through increased volume with existing clients and by acquiring select new clients . - post - pandemic survey respondent
marcumllp.com
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