The construction business is a promising one and holds a bright future. As per Forbes and U.S. Small Business Administration (SBA), the construction industry is flourishing and has high growth prospects in the subsequent years. In the developed nations of the USA, the UK, and Canada, the construction industry constitutes 6-9% of the nation’s GDP. It is an industry that will always witness high demand and needs to equip itself accordingly. Great time for growth to Orange county commercial general contractors.
Construction facts
The construction industry has many forward and backward linkages with other businesses. Industries such as the cement, steel, brick, timber are all dependent on it. Further, small-scale businesses like the finishing contractors, utility systems contractors, and structure contractors rely on it. The construction business itself consists of many types, such as small renovation contractors, general contractors, owner-builder, real estate developers, professional construction managers, program managers, package builders, and sponsor builders.
Renovation
The small renovation contractors undertake mini projects like home remodeling and small-scale office work. Renovation contractors offering commercial remodeling services in Orange County might not be associated with large construction organizations. Their projects require a small amount of capital investment. General contractors are experts in their field. They specialize in new construction and remodeling projects. From kitchen and bath remodeling to large scale commercial constructions and retail remodel services in Orange County, the general contractors have the required expertise as well as experience.
Owner-builders are not contractors, strictly speaking, they construct buildings for personal use or selling it after completion. Real estate developers come under the umbrella of owner-builders. Apart from personal use, real estate developers sell off the building after its completion. A professional construction manager might be a company, or a group of individuals, executing the tasks required for a construction project.
They act as an agent of the owner and supply all the required personnel, such as superintendents, project managers, and accounting staff. The services of a program manager include acquisition of a new site, demolition of any building existing on the site, hiring architects, financial analysis of the project, and advertising and receiving bids from contractors. Package builders are responsible for both the design and construction of the project. They might subcontract the design part of the project to third party architects. Finally, a sponsor-builder is responsible for government-aided projects, handling the construction, management, and maintenance of projects.
Like all industries, the construction business is adopting technology and growing at a rapid pace. Construction projects make heavy use of robots and drones (equipped with virtual reality applications and sensors) for eliminating redundant and dangerous manual activities. Thus, the advent of technology has unleashed the true potential of the construction industry.
