Marcum's 2023 Northeast Ohio Construction Survey

marcumllp.com

7

EXPENSES As you’ll see in the figures, many companies have a renewed focus on cutting costs, and while the supply chain agony of the past few years is subsiding, overall costs remain a challenge. Once again, 60% of respondents said general and administrative (G&A) overhead expenses were higher than the past year, and 43% expect the coming year to be higher still. That’s down from 55% last year, as preparing for a recession is on many companies’ agendas.

26%

Saw a decrease in their ability to obtain financing over the past year – more than five times as many compared to 2022.

10%

Cited the tightening credit market as their biggest threat in the coming year

44%

Expect higher general and administrative overhead expenses (G&A) in 2023, down 13% from last year.