Don't let wobbly markets and high interest rates throw a wrench in your cash flow! Here's a breakdown of what contractors and building material suppliers can expect for the rest of 2024, plus smart tips to ensure you get paid on time - no matter what the economy throws your way.
The news isn't all doom and gloom. Single-family home building is expected to stay steady, thanks to incentives that help offset high borrowing costs. That means plenty of opportunities to frame beautiful new homes!
However, multi-family construction might take a hit, continuing the slowdown from late 2023. Here's the good news: this creates a chance to stand out by providing exceptional service to single-family builders.
The bright spot? Manufacturing construction is booming, especially for facilities related to:
Tech: Chip fabrication plants and computer/electronics factories are in high demand.The biggest hurdle for contractors might be finding enough qualified workers to keep up with all these projects. There were a whopping 370,000 unfilled construction jobs at the start of 2024! This means it's crucial to attract and retain top talent.
No matter what the market does, getting paid on time is essential for your business health. That's where CrossCheck comes in! We offer a suite of payment processing solutions specifically designed for the construction industry.
Don't wait! Click below to speak to a CrossCheck expert and find the perfect payment processing solution for your business. Let's build a stronger future for your company, together!