HIRI Issues impacting contractors HERO

Issues Impacting Contractors

May 23, 2019

Each quar­ter, the Home Improve­ment Research Insti­tute (HIRI) part­ners with The Farnsworth Group and Home­Ad­vi­sor to sur­vey con­trac­tors on a rotat­ing list of top­ics, as well as their indus­try and busi­ness sen­ti­ment. The two most recent con­trac­tor top­ic stud­ies cov­ered the effects of tar­iffs and the tax act in the fourth quar­ter of 2018 and a con­struc­tion indus­try labor short­age in the first quar­ter of 2019.

Study High­lights

  • Accord­ing to research on the effects of tar­iffs and the tax act, only 25% of con­trac­tors oppose the new tar­iffs in the Unit­ed States, even though 76% of them report an increase in the cost of materials.
  • Appar­ent­ly, these issues are not major deter­rents, as 70% of con­trac­tors report no change in the com­pet­i­tive­ness of their business.
  • Almost 66% of respon­dents acknowl­edge the labor short­age in the con­struc­tion industry.
  • Most con­trac­tors agree that a lack of skilled labor and lack of inter­est in the indus­try have a neg­a­tive impact on their busi­ness, with many report­ing project delays because of these factors.

Learn more about the impact of tar­iffs and the labor short­age with a mem­ber­ship to HIRI, which grants you full access to these reports and many more, as well as peer-to-peer net­work­ing and dis­count­ed indus­try events. JOIN NOW

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