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More than two-thirds of construction companies say COVID-19 has not impacted their ESOP

Half of survey respondents say 2020 project profitability decreased due to pandemic.

February 10, 2021 |

Courtesy Pixabay

A survey of the construction industry by Prairie Capital Advisors, Inc., found that 67.6% of respondents had not seen their Employee Stock Option Plan (ESOP) significantly impacted by COVID-19.

The investment bank tracks this data because many of its construction industry clients have decided on an ESOP as part of their ownership transition strategy. The survey also found that the pandemic has caused 50% of respondents to experience project profitability decreases in 2020 as a result of the pandemic.

About 44% noted no change in profitability in 2020. More than 60% of respondents reported that they plan to make investments in 2021, including in training, technology, and equipment.

More than half of survey respondents reported their biggest operational concern for 2021 was increased competition. Some 71% of companies surveyed said the result of the Presidential election would have no impact on their business opportunities.

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