Construction is a booming industry across the United States with a bright future partially fueled by an increase in governmental infrastructure projects. However, the industry is also facing unique challenges due to a shrinking pool of trade labor, economic uncertainty in the private sector and continued supply chain issues post-pandemic.

In this episode of The Wrap, our hosts welcome Will Aderholt, CPA, CCIFP, leader of Warren Averett’s Construction Industry Practice, as well as special guest Jay Reed, President of Associated Builders and Contractors of Alabama, to discuss specific challenges and opportunities affecting the construction industry . 

In this episode, you’ll hear: 

• How workforce development programs are looking to address labor shortages of skilled trade positions
• Information about supply chain issues and how they are still impacting construction projects post-pandemic
• Discussion surrounding the fear of a recession and how it is affecting construction projects and financing
• Insight about succession planning specific to the construction industry
• Advice for diversifying your construction business and building relationships with competitors

Resources for additional information:

• Blog: Four Economic Factors Impacting Construction Companies (And How To Overcome Them)
• Blog: Proactive Planning for Contractors in Uncertain Times
• Blog: Bouncing Back From the Pandemic: Tips for Contractors
• Blog: Selling a Business: Checklist From a Buyer’s Perspective
• Podcast: Episode 010 – Don’t Let the Sell Run Dry
• Podcast: Episode 050 – Employee Retention and Recruiting in Today’s Competitive Environment