There are a lot of businesses that have closed because of the pandemic. With protocols to maintain social distancing and to limit the number of people inside an enclosed space, a lot of industries have been affected by the pandemic. One of the most hit industries especially during the earlier part of the pandemic in March was the construction industry.
Fewer Commercial Clients
There is a sense of panic in the industry given the fact that a lot of small contractors decided to close for good or cut down their workforce. Commercial clients such as businesses may have hesitated to build their office or have a new commercial space given the reality that more people are simply staying at home.
This makes it hard for a lot of contractors to get commercial clients. Some of the offices are being put into a halt for multiple reasons. Some businesses opted to stop the renovation because they’ve already closed. On the other hand, some stopped the renovation because of transitioning towards online operations.
More Residential Clients
There is a silver lining to this situation. For starters, people are staying at home. Nowadays, people look for DIY solutions to be able to maximize their living space and turn it into a workspace as well. Contractors can take advantage of this opportunity to capture more residential clients.
From kitchen renovations to requests of creating a bigger room for work and leisure, these are some of the most popular projects during the pandemic.
During the early part of the pandemic, there were material delays as industries are focused on how to provide for the medical field. This has affected the construction industry since they rely mostly on countries such as China that decided to funnel its efforts into their health infrastructure.
The construction industry had no other choice but to find other sources where they can find their plumbing, steel, and stone supplies. The drawback is that there is scarcity at play. You have to deal with the fact that there is going to be an increase in the cost of materials.
Clients Are Undecided To Have a Renovation
Overall, there is a huge drop in the number of clients that the construction industry has to deal with. Lenders are afraid to approve loans; therefore there are no funds that can go towards renovation and construction. Next, you also have clients who are hesitant to build new offices and renovate old ones simply because of the uncertainty brought by the pandemic.
Adapting Safety Protocols
The industry is also looking to promote safety protocols. Some would even have to test their crew regularly. This will allow them to work with peace of mind. And also, because of social distancing protocols, there are instances when the contractors can’t operate with their entire manpower. Instead, they’d cut the number of people into half to ensure that proper social distancing is in place.
The pandemic affected numerous industries including contractors. And given the hesitation on the part of potential clients, the future remains uncertain. What could solve the problem? Until there is the local transmission of the virus in an area, the construction industry can expect these problems to still haunt them.