7 Reasons Why Small Construction Companies Fail

Perhaps the biggest mystery in entrepreneurship is why some of the businesses that seem to do everything right still fail.

In the construction industry, the prospects are even grimmer than in others. Although the market has made an impressive recovery since the 2008 financial crisis, most companies still find it difficult to appropriately scale and succeed. In fact, reports show that only 47% are still operating after four years.

What It Takes to Be a Successful Construction Contractor: 6 Factors to Focus On

When you know a trade extremely well and have made a name for yourself, the next logical step is to take matters into your hands and launch your business.

That’s easier said than done.

Here’s the hard truth; there is no startup fairy who will sprinkle magical dust on your small business and ensure its success. Building and growing your construction company takes hard work, focus, persistence, and the power to continue when everything seems to be crumbling around you.