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Construction Budgeting Insights

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  • Must-know market trends impacting your construction budget

    Your budget is essential to the success of your construction business. Here’s everything you need to know to budget proactively and navigate obstacles affecting the industry.  

    Looking to hire?
    Get your free copy

The ultimate tool to stick to your construction budget 

Insights & tips to help your business grow

Construction professionals across the U.S. say budgeting is a top priority as several variables impact the market.  

The key is to stay proactive. This eBook contains everything you need to know about the current construction landscape, including strategies to stick to your budget and achieve long-term success.  

What’s inside: Insights on... 

✓ Building materials costs 

After record-high prices, experts predicted material prices would stabilize in 2024. Has that proven to be the case or are they subtly increasing? What can you do to prepare for potential price spikes in construction materials?

✓ The construction labor shortage 

The industry will need to fill over 340,000 positions in 2024 as 11,000 baby boomers head for retirement. Is it possible for businesses to complete construction projects within their deadlines and achieve growth as the demand for skilled workers persists?

✓ The economy 

Inflation and interest rates remain a point of tension for construction firms. As a result of economic uncertainty, buyers and lenders are more cautious. What steps should organizations take to stay afloat in the current market?  

Today, the construction industry faces several challenges. Firms remain worried about economic conditions, project costs, and the skilled labor shortage. The biggest concern: what these obstacles mean for their business and whether it’s possible to save money and increase profits.  In the face of uncertainty, staying proactive is crucial. While it may seem difficult to stick to your budget, these insights can help you navigate these circumstances and achieve long-term success. 

 

— Craig Thompson, Michael Page Senior Managing Director 

  • Ready to build an effective construction budget?

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