CONTRACTOR’S IMPACTS OF COVID-19 ON CONSTRUCTION & BUSINESS by Dan Monk S ince the pandemic began, the entire con- struction industry has been designated an essential service, primarily for economic
Some businesses are not as fortunate and as a consequence of this prolonged shut down has pushed many to the brink and beyond. We feel the countries who have been hit particularly hard by this pandemic as well as the many tourism and service-oriented businesses who continue to suffer. This is why continuing to support local for a weekend getaway, Christmas gifts, and so forth is always so important and critical to business survival right now. Regarding the renovation and new home con- struction industry, this boom brought many positive business impacts, such as increased revenue and hopefully profits. However, it is impossible to ignore the fact that we are also experiencing adverse effects which can limit growth and impact the bottom line.
reasons. This had a tremendous impact by creating a boom in renovations and new home construction. With many isolating in their homes for months, it appears that homeowners have been paying more attention to the space around them. Many had their children home all the time and their young adults returning home which created a hectic household and they decided they needed to make a change. Whether it be improving their existing home or selling and moving to another home, the results have been incredible for the industry. With that being said, I want to express how extremely fortunate we are to be living in a region with low cases (Atlantic Canada) and oper- ating in an industry that has seen strong growth.
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SEPTEMBER 2020 • SPOTLIGHT ON BUSINESS MAGAZINE
SPOTLIGHT ON BUSINESS MAGAZINE • SEPTEMBER 2020
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