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These drivers include: Funding – Federal, State, and Local governments fund a variety of construction projects, namely infrastructure projects and municipal projects.As such, the industry benefits when more government funding is available.
The Construction industry is responsible for a wide variety of activities, from dam and highway construction to roofing and tile work.
The top revenue-generating segments include Commercial Building Construction segment.
Wages – Wages are a significant expense for construction businesses, averaging approximately 27% of revenue.
Purchases – Purchases, which include tools, equipment, and input materials, are the largest expense for construction companies.
We’ll start with key Construction industry fundamentals like how big the market is, what the key segments are, and how revenues and profits are generated.
Then we’ll discuss keys to not only starting a Construction business, but succeeding in it!
Your business plan should establish the goals of your construction business.
It should include detailed plans for every stage involved in the process along with the timeframe and funding you will need to meet each of your goals.
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